JPMorgan Stock Hit by Report That Loss Could Balloon to $9B
When you gamble, you can lose BIG
Shares of JPMorgan Chase (JPM) tumbled Thursday as a published report said the bank’s losses on a bad trade may reach as much as $9 billion — far higher than the estimated $2 billion loss disclosed last month.
If JP Morgan can’t discern a good trade from a bad one, how do the little people stand a chance in this economy?