What's up with Goldman Sachs? Just another indication of headline risk. Why was GS the ONLY major financial stock down today, down almost 3 percent to a 52-week low?
There's various theories floating around, none of them terribly convincing: the government subpoena from a few days ago, a new $1 billion lawsuit from an Australian fund, but whatever it is options traders indicate very heavy activity.
That's a sign that some believe Goldman will continue to suffer from headline risk, and unfortunately that's all that can be said at the moment.
And what about those rumors of a couple weeks ago that Goldman was close to settling the fraud charges with the SEC? GS president Gary Cohn just said there was no indication that Goldman was close to settling.
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