- Magic Empire Global Limited (NASDAQ:MEGL) plunged on Monday as First Republic Bank (NYSE:FRC) also succumbed to the banking meltdown after Silicon Valley Bank and Signature Bank.
- First Republic Bank share prices plunged Monday after the Federal Deposit Insurance Corporation confirmed the sale of FRC’s assets and deposits to JP Morgan Chase & Co (NYSE:JPM).
- First Republic shares had fallen from around $115 in early March when troubles at Silicon Valley Bank surfaced. The FDIC’s decision comes as the troubled regional lender’s financial position deteriorated, leaving no more time for a private sector-led rescue.
- Shares of FRC fell last week after it reported a decline in deposits and revenue for the first quarter and dodged questions on its conference call. FRC lost over 71% stock value last week and 97% YTD. SPDR S&P Bank ETF (NYSE:KBE) is down by 0.19% by $36.56 on the last check Monday.
- Magic Empire Global Limited is a financial services provider in Hong Kong which principally engaged in providing corporate finance advisory services and underwriting services.
- Price Action: MEGL shares traded lower by 26.50% at $2.94 on the last check Monday.
OMNIQ Corp. Announces Proposed Public Offering Of Common Stock; No Size Or Amount Disclosed
OMNIQ Corp. (NASDAQ:OMQS) ("OMNIQ Corp." or the "Company") today announced that it intends to offer to sell shares of its common stock (and/or pre-funded warrants ("Pre-Funded Warrants") in lieu thereof) in an
