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Stock Volatility Datapoint Of The Day

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by Felix Salmon
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TSLF: TAF for Investment Banks   Stock Volatility Datapoint of the Day, Part 2

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Mar 11 2008 12:00am EDT

Stock Volatility Datapoint of the Day

Bear Stearns stock today has traded between a high of $68.24 (before the Fed's new facility was announced) and a low of $55.42. That's an intraday move of $12.82 per share, or more than 23% of Bear's value at its low point.

Does Punk Ziegel's Richard Bove have that kind of influence? (He downgraded Bear Stearns today.) Somehow I doubt it. And in any case the stock, as I write, is actually trading more or less flat on the day. This is noise, pure and simple. And yet more proof that intraday stock moves - even really large ones - are often best ignored.

(HT: Jansen)

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