Goldman Sachs just dropped off a cliff falling over 2 ½ points in about 4 minutes.
This stock has been on an absolute tear and it hit a new 52-week high earlier today. I cannot find any news for the sell-off. However, 100,000 shares were traded during the decline and I believe this may be a case of a lack of liquidity filling in behind the stocks advance, leaving it vulnerable to a pull back.
The market, as a whole, has not responded to GS giving back all of today’s gains. If recent financial leader, Goldman continues to fall, it may prove difficult for the market to maintain its 1.7% advance.
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Tags: Goldman Sachs, GS
