Credit Suisse shares have never fallen this much in one day: Shares fell nearly 19 percent after the bailout was announced on Thursday.
Vontobel analyst Andreas Venditti (50) already saw the CS course disaster coming in September. He was expecting a capital increase of four billion dollars in his model, and that must be absolutely true. Price estimate at the time: four francs. Another hit. “CS stock is where I’m waiting right now,” Venditti tells Blick.
uncertain future
And how does it continue? “Now the question is how to implement the strategy,” Venditti replies. “Many key points of the strategy are still unclear. The CS peak will need to create more clarity, but then a reliable estimate may be possible. Unfortunately, that will take some time.” However, the overall market situation remains difficult due to inflation, the war in Ukraine and an imminent recession.
Even the day after the crash investors remain skeptical, the stock remains a slow seller. At the stock market opening, the price of CS paper briefly exceeded four francs. But the flash in the pan does not last long and the course disperses again. In the end, an increase of 1.26% remained.
Value has halved since the beginning of the year
The stock still has a long way to go before it retraces Thursday’s losses. Not to mention the drop since the beginning of the year: the stock has lost more than 56 percent since the first day of January.
Even bargain hunters are cautious and avoid stockpiling cheap stocks.