Sharp Sell-Off Hits Itau Unibanco (ITUB): Shares Plunge Over 4% on NYSE
NEW YORK, NY – April 10th – Shares of Itau Unibanco Holding SA ADR (NYSE: ITUB), the American Depositary Receipts representing the major Brazilian bank, slid significantly during midday trading on the New York Stock Exchange this Wednesday.
As of 12:17 PM EDT, the stock was priced at 0.22 for the session, translating to a substantial 4.08% drop in value for the day so far.
Today’s downturn puts the shares considerably below the previous day’s closing price of $5.51, indicating notable selling pressure on the financial institution’s stock.
The 1-day trading chart illustrates the negative momentum clearly. After attempting to hold levels between roughly $5.40 and $5.47 earlier in the morning session, ITUB shares entered a steeper decline leading up to the $5.29 price point reported around lunchtime on the East Coast. Market participants are watching ITUB closely as the trading day progresses.
