Credit Suisse shares on Monday reached a new record low, falling as much as 9% as investors continued to hammer away at the stock of the Swiss banking giant after the collapse of banks in the U.S.
While SVB Financial and Signature Bank collapsed in the wake of the downturn in the technology and crypto sectors as interest rates rise, Credit Suisse’s difficulties have been of its own making.
Credit Suisse CSGN,
According to FactSet, Credit Suisse shares trade at 0.2 estimated 2023 tangible book value. Rival UBS UBS,