Is the Worst Over for Capital One Financial?
Capital One Financial (NYSE: COF) has struggled through net losses in the past two quarters. The COVID-19 pandemic has meant lower spending on the bank's credit cards, high provision of credit losses due to recession-related economic hardships, and 0% interest rates -- a triple whammy.
The bank's stock price has taken a major hit, down about 32% this year. But the good news for investors is that it has gained almost 20% since its recent lows in July. You may be wondering if it is safe to go back in the water. Is the worst over for Capital One?
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Source Fool.com