MF Global (MF) May Not Survive the Weekend - FBN
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MF Global Holdings Ltd. (NYSE: MF) shares have taken a beating over the last several sessions as questions about liquidity, operations, and a Moody's downgrade have weighed.
But should an investor ride out the storm to see the big gains on the other side? FOX Business Network (FBN) Senior Correspondent Charlie Gasparino has some information, and it isn't looking good.
According to Gasparino, "Major players at the investment banks are telling FOX Business MF Global, at least in its current form, will not survive the weekend." (Emphasis ours.) He continues that sources say clients are hitting the exits and "what one CEO told me is it’s done. It’s toes up at MF Global."
Finally, CEO John Corzine is said to be "running around in a mad dash to sell assets in the firm."
MF shares are 11 percent lower heading into the close. The stock is down nearly 70 percent since the start of October, and recently hit a 52-week low of $0.9891 per share.
But should an investor ride out the storm to see the big gains on the other side? FOX Business Network (FBN) Senior Correspondent Charlie Gasparino has some information, and it isn't looking good.
According to Gasparino, "Major players at the investment banks are telling FOX Business MF Global, at least in its current form, will not survive the weekend." (Emphasis ours.) He continues that sources say clients are hitting the exits and "what one CEO told me is it’s done. It’s toes up at MF Global."
Finally, CEO John Corzine is said to be "running around in a mad dash to sell assets in the firm."
MF shares are 11 percent lower heading into the close. The stock is down nearly 70 percent since the start of October, and recently hit a 52-week low of $0.9891 per share.
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