Banc Of California Attempts To Rebound From Tuesday's Disaster
Banc of California Inc (NYSE: BANC) shares are trading higher by $2.00 918 percent) at $13.36 in Wednesday's session. That is less than half of its loss ($4.61) from Tuesday when a very negative Seeking Alpha piece was published on the company.
The company has vigorously refuted the claims of corruption and issued its Q3 earnings report ahead of schedule, which revealed an EPS beat of $0.17 with inline revenues.
Following a higher open, it retreated but found support well ahead of Tuesday's close ($11.26), only reaching $12.60 before continuing its move higher.
So far, it has reached $13.79 and is trying to stabilize in the lower $13 handle. The issue is on track to have its second day in a row of monster volume.
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