This is not a price chart of some low-cap crypto shitcoin, that’s the stock of a New York Community Bancorp which slumped 83% since the beginning of 2024, hitting an all-time low this week before rebounding 📉
NYCB almost collapsed after the Wall Street Journal published an article saying the bank was seeking some much-needed cash. After word spread, stocks dropped more than 40% over the day, all because the bank didn’t have the billion dollars it was supposed to have.
As you can see on the price chart, NYCB announced such needed $1 billion investment from a group of firms, led by former Treasury Secretary Steven Mnuchin’s Liberty Capital 💸
2008 all over again?