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[Abacus] Goldman’s shares hit 52-week low

Posted by Stacy-Marie Ishmael on Jun 10 21:27.

On a day when the S&P 500 index closed 3 per cent higher, Goldman Sachs’ shares touched a 52-week low of $131.30, a level not seen since May 14 2009.

And as the YTD chart below (via Google Finance) illustrates, it’s been mostly downhill for the former investment bank since the SEC first used the ‘F-word‘ back in April:

Goldman via Google Finance

The most recent disclosures about a fresh SEC investigation into the so-called Hudson Mezzanine 2006-1 CDO has done little to allay fears about the bank’s litigation risk.

Add to that the $1bn lawsuit filed by Aussie hedge fund Basis Yield Alpha Fund (Master), and one gets the impression the only people having a good time working for Goldman right now are their lawyers.

Goldman has rejected all allegations of misconduct.

Related link:
How banks sowed discord with CDOs – FT

Article Series - Abacus

  1. SEC charges Goldman Sachs with subprime fraud
  2. The case involving ABACUS 2007-AC1
  3. Markets Live transcript - Goldman/SEC special - 16 Apr 2010
  4. Formerly The Greatest Trade Ever
  5. Paulson: 'It's our money now'
  6. SEC/Goldman linkfest
  7. Introducing Fabrice "fabulous Fab" Tourre
  8. 'Goldman Sachs is disappointed...'
  9. This CDO is a Democrat
  10. ACA's rather disastrous CDO forays
  11. The analysts react
  12. A Goldman blogger round-up
  13. A CDO litigation risk league table
  14. Fisking Goldman's latest rebuttal
  15. The Goldman defence documents
  16. Fabrice Tourre scores an indefinite paid holiday
  17. Der Abakus
  18. Is this the sound of a bandwagon?
  19. The experience of Laura Schwartz
  20. Fabrice Tourre goes underground
  21. The exemplary Magnetar CDOs
  22. Dear Paulson investor...
  23. Appearing soon in the Senate - fabulous Fab (updated)
  24. In defence of Goldman Sachs
  25. For RBS, a routine deal became an $840m mistake
  26. The prospectus
  27. More Goldman voyeurism
  28. Tail risk in the Rhineland
  29. The running order in Room 106
  30. 'My name is Fabrice Tourre'
  31. Live, from Room 106
  32. Goldman in DC: A blogger round-up
  33. Call the cops
  34. Understated Research Headline of the Year, Part II
  35. Goldman TV
  36. Fitch revises Goldman to outlook negative
  37. The many legal risks of Goldman
  38. Goldman faces new CDO case
  39. Goldman's shares hit 52-week low

This entry was posted by Stacy-Marie Ishmael on Thursday, June 10th, 2010 at 21:27 and is filed under Capital markets. Tagged with , . Edit this entry.

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