UPDATE! (10:27AM)
PACW bank stock halted trading.
Then suddenly a big rally.
The volume for today is already 29 million shares and the average per day is only 26 million shares traded.
Here’s what’s going on.
The big corrupt Wall Street banks realize that the depositors will all get bailed out by Biden.
But the stock is collapsing because of the news of deposits being withdrawn hugely!
So JPM and others are forced to buy the stock to keep it afloat.
If the stock collapses then it goes broke.
They can’t keep this up forever.
May 11, 2023
They kicked the can down the road when they rallied the banks, but only for a few weeks.
PACW Bank is on the death watch again after admitting it had 10% of its deposits withdrawn just last week!
It’s going under and nothing is going to stop it.
It’s down about 23% premarket.
Watch the 4.17 area.
If it breaks that then it’s heading down to it’s lows in the 2.75 area today or tomorrow.
