More bad news for GPB Capital Holding investors. News sources are reporting that some of the GPB Capital’s share prices have been reduced by over 74%. This is after a series of negative news reports, investigations from state agencies and a raid by the FBI.
GPB Capital investors have filed several lawsuits to recover losses. One of the common claims is that the investment was not suitable for retail investors and was supposed to be marketed to only “accredited investors.” In addition, it appears some financial advisors sold the GPB Capital Funds as a “conservative” income investment.
Haselkorn & Thibaut, a national investment fraud law firm, has filed multiple lawsuits for investors to recover losses. Jason Haselkorn, a Partner at Haselkorn & Thibaut, said the following, “We are getting some calls from worried investors and we have a dedicated team investigating GPB investments. Current reports are very concerning for investors, many of whom expressed concerns that there may be more bad news, or that the financials at GPB Capital may continue to deteriorate. ”
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Haselkorn continues, “Investors need to know that there are options available for them to potentially recoup their investment losses. However, for some early investors, there are some time deadlines depending on their date of purchase that could begin to potentially limit recovery options. Every situation is different, and statute of limitations and other potential deadlines may vary by jurisdiction. To find out more details, or for a free case evaluation, you can call 1 888-628-5590 or visit their website.
Stock to Watch – Alphabet (GOOG)
Alphabet shares are strengthening from the one-month low of October 2. At the moment, the emitter’s quotes are traded at a discount of 6% to the April 52-week high. Since the beginning of the year, the emitter’s quotes grew by more than 16.5%. Alphabet will invest USD 3.3 billion in expanding data centers in Europe over the next two years. Earlier, Deutsche Bank analysts raised the forecast for Google Cloud business growth to an average annual rate of 55% by 2022 and annual sales to USD 38 billion by 2025.
Over the last week, Alphabet’s shares showed a decline in value by 0.93% S&P500 index went down by 1.31% during the same period.
Support and resistance
The stock of the company is showing an ambiguous technical picture. At the moment, #GOOG shares are consolidating. The emitter is testing local levels of support and resistance at 1180.00 and 1220.00, respectively. The instrument has the potential for correction after a protracted rally.
Indicators don’t give a clear signal: the price has consolidated between MA(50) and MA(200), and MACD histogram is located near the zero line. Positions are to be opened from key levels.
Comparing company’s multiplier with its competitors in the industry, we can say that #GOOG shares are neutral.
Support levels: 1180.00, 1150.00, 1115.00.
Resistance levels: 1220.00, 1245.00, 1265.00.
If the price consolidates below the support level of 1180.00, #GOOG shares may correct. Potential profits should be locked in by orders at 1150.00, 1120.00, and 1100.00. Stop loss – 1210.00.
If the price consolidates above 1220.00, one may consider buying the company’s stock. The moving potential is aimed at the area of 1280.00–1300.00. Stop loss – 1190.00.
Implementation period: 3 days.