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The drama continues over at
National Bank of Greece (
NBG), the aptly named big Greek bank. NBG has seen insane trading volume here in its U.S.-based ADR. But price action has been even crazier. Shares of NBG are down almost 84% since I recommended
staying the heck away from it back in mid-May. And now loosening bank short selling regulations in Greece are spurring an exodus from this stock.
As I write, NBG is down in the $3.20 area -- that's 21% lower than where shares ended at yesterday's close, and it's a new 52-week low in the stock. With no sign of support anywhere nearby, I'd recommend staying away from NBG. This isn't a "buy the dips" name by any stretch of the imagination -- but it is fun to watch.
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