Market Uncertainty Looms as First Republic Suffers $21 Billion Loss.
TL;DR
First Republic Bank's stock plunged 64% over the past two sessions after its earnings report showed a nosedive in deposits and raised further questions about its survival. Its market capitalization briefly fell below $1 billion, putting its membership in the S&P 500 Index in jeopardy. Companies must have a market cap of at least $12.7 billion to be considered for inclusion in the S&P 500. If First Republic were to be removed from the index, it could lead to additional selling pressure on the stock.
Topics:businessfinance#finance#first-republic-bank#index-inclusion#market-capitalization#sandp-500-index#stocks
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