Charles Schwab shares are trading lower after TD Bank sold 40.50 million shares of Schwab common stock and reduced its ownership interest from 12.3% to 10.1%.
Portfolio Pulse from Benzinga Newsdesk
Charles Schwab shares declined after TD Bank sold 40.50 million shares, reducing its ownership from 12.3% to 10.1%.
August 21, 2024 | 9:25 pm
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NEGATIVE IMPACT
Charles Schwab's stock price is negatively impacted as TD Bank sold 40.50 million shares, reducing its ownership stake from 12.3% to 10.1%. This large sale likely increased supply and put downward pressure on the stock price.
The sale of a large number of shares by a major shareholder like TD Bank can lead to a decrease in stock price due to increased supply and potential concerns about the shareholder's confidence in the company. The reduction in ownership from 12.3% to 10.1% is significant enough to impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100