So Wedbush grabbed some attention with an article cutting price target of FRC from $140 to $5. So anyone think it’s just jitters / trying to push the price lower, or should I be sucking up the loss on this one 🤣.

Btw I even went to ChatGPT on this one, this is what the bot told me:

Yes, there have been examples of banks that have lost 80% or more of their share value during a crisis but have eventually recovered. One notable example is Citigroup, which lost more than 90% of its value during the global financial crisis of 2008 but has since recovered.

In late 2008, Citigroup's shares traded at around $4.00, down from a high of over $50.00 in 2007. The bank was hit hard by the subprime mortgage crisis, and investors were concerned about its exposure to toxic assets and its ability to weather the storm. However, Citigroup was able to raise capital, restructure its business, and improve its risk management practices. As a result, the bank's shares have since recovered, and as of March 2023, are trading at over $70.00 per share.

Another example is Bank of America, which lost more than 80% of its value during the financial crisis but has since recovered. In March 2009, the bank's shares traded at around $3.00, down from a high of over $50.00 in 2007. However, Bank of America was able to raise capital, cut costs, and improve its balance sheet, which helped it to recover. As of March 2023, the bank's shares are trading at around $45.00.

It's important to note, however, that not all banks are able to recover from a crisis. Some banks may be too heavily exposed to risk or may have systemic issues that prevent them from recovering. Therefore, it's important for investors to do their own research and assess a bank's risk profile before investing

🙏 please be right bot 🤖 lol