Monday, September 29, 2008

Chronicles Of Depression 2.0: #280: CapOne

One of the stocks that lagged in closing was Capital One.

All of us have seen their credit card TV ads.

Capital One Financial Corp. (COF)

I'm not going to pretend I can parse that information. I just want to point out two things:

1) What it lost today
2) Its 52-week low

If it got that low in the past 52 weeks, why couldn't it get there again? Especially with this fast-deteriorating situation.

And there is this hanging over it now too: Form 8-K for CAPITAL ONE FINANCIAL CORP, in which they planned to offer 14 million shares at $49/share. Their current stock price is below that. Oops.

Previously here:

Chronicles Of Depression 2.0: #273: Your Card
Chronicles Of Depression 2.0: #247: Plastic

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