Looks highly manipulated to takeover Frc at dirt cheap prices
PB value of 0.08 vs industry avg of 0.97. Frc shares are mainly institutionally owned 96.83%. It’s not a mainly retailer owned bank! U think the institutions will let billions of dollars turn to nothing?
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IamJit : I had the same mindset with Pear therapeutics. The company had high almost 90% institutional ownership and about 8% insider ownership. They let it turn to dust. The CEO who had 10million shares worth 110m the year before was eventually worth about 200k. He didnt even bother liquidating, he just let it be. If you are from SG, Temasek holdings was the biggest loser and they have yet to sell it.