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Why Schwab Stock Just Broke an 8-Day Losing Streak

TheMotleyFool

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At long last -- some good news for investors in Charles Schwab (NYSE: SCHW).

For eight long days, Schwab stock has gone nowhere but down. Since paying out its quarterly dividend ($0.25 per share, or a dividend yield of 1.8% if you're interested) on Aug. 10, Schwab's shares have shed 12.5% of their value. This sell-off culminated in a big 5% drop yesterday after the company announced it is laying off employees and taking charges of as much as $500 million to pay for it.

But then, a miracle happened -- and now Schwab stock is up 2.4% as of 2:24 p.m. ET.

Source Fool.com

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