Market Overview

Goldman Sinks on Subpoena, Bove Says Bail

(TheStreet) -- Goldman Sachs(GS) stock is down on published reports that the firm has received a subpoena from the New York District Attorney's office.

Goldman Sachs' stock fell two percent to $133.50 after the news.

Rochdale Securities analyst Richard Bove told TheStreet that he expects the stock to decline to $120 by the end of trading Thursday, arguing that the political risk for the firm has increased and he that investors need to exit their positions.

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