Indictment to Settlement: $15 Billion Market Cap Loss
Posted By Barry Ritholtz On July 17, 2010 @ 3:26 pm In Legal,Valuation | Comments Disabled
I’ll have more on the GS settlement tomorrow [1] — but I keep getting emails from people insisting that since Goldman’s stock rallied, it is, therefore, a victory. I’ve always hated that analysis, but since so many of you keep bringing it up:
Pre-indictment, GS was north of $180. It closed Friday at $146. Its still some 20% below where it was before the SEC enforcement action began.
Goldman Sachs has lost $15 Billion of market capitalization. Isn’t that a significant part of the penalty? Or do we just ignore that?
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[2]
via yCharts [3]
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2010/07/indictment-to-settlement-15-billion-market-cap-loss/
URLs in this post:
[1] tomorrow: http://www.ritholtz.com/blog/2010/07/its-the-law-bitches/
[2] Image: http://www.ritholtz.com/blog/wp-content/uploads/2010/07/GS-Cap.png
[3] yCharts: http://ycharts.com/companies/GS/market_cap#zoom=3
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