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US NYCB shares down over 25% pre market

  • Few headlines on NYCB Shares plummeting in early trade during the Early European session.
  • Looking deeper into the story on Loan risks, it is clearly old and from last night, but this should still be closely watched when the US starts to come in and how they digest last night's story, and how the shares respond when the Cash opens later.
  • As per Bloomberg from last night: " Commercial real estate lender New York Community Bancorp said it discovered “material weaknesses” in how it tracks loan risks"
  • NYCB shares are down 30% pre Market, and a open below $3.60, would be breaking the 2024 low and its lowest print since 1997.

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