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PacWest stock flash crash recovers after rescue merger with Banc of Cali

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US banking crisis fears arose again as PacWest stock flash crashed before it was rescued in a merger deal with the Banc of California.

Shares in PacWest bank flash crashed by 27% on July 25 only to quickly recover in after-hours trading on the news it had merged with the Banc of California.

PacWest Bancorp stock slumped from $10.33 to $7.50 in late trading on July 25, sparking concern among the finance and crypto community — with some asking if “the next banking collapse” was starting. Share prices recovered in after-hours trading on July 25 and were priced at $10.10 at the time of writing,

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PacWest Bancorp stock slumped from $10.33 to $7.50 in late trading on July 25, sparking concern among the finance and crypto community, with some asking if “the next banking collapse” was starting.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Banc of California confirms plan to buy PacWest in all-stock merger backed by two private-equity firmsPacWest's stock rises fractionally in after-hours trading after a 27% drop as it agreed to combine with Banc of California.
Source: MarketWatch - 🏆 3. / 97 Read more »