Not that many Occupy Wall Street participants are actively checking their stock quotes or anything but it appears that they are actually winning. Today two of the last remaining Wall Street giants are getting the Gulliver in Lilliput treatment as their stock prices are tied down and speared to death in a classic sell-first-ask-questions-later hellstorm in the equity markets.
No one trusts Morgan Stanley (now majority owner of Smith Barney) and Bank of America (Merrill Lynch) may actually be better off dead than alive if you were to read The Street’s consensus opinion into it’s unimaginable share slide down to the sub-$6 level. In the meantime, Credit Suisse is out with a report predicting a massive loss for Goldman Sachs this quarter and UBS is still running around like a Swiss chicken with its head cut off in the wake of the $2 billion “unexpected” trading loss and the CEO’s departure.
In other words, the stock market is also saying “F&%# Old School Wall Street”, not in solidarity with the protest but certainty in synchronicity.
Here’s a look at Bank of America and Morgan Stanley over the last 5 days…
You wanted Wall Street to feel the pain? You got it.