NEW YORK (TheStreet) -- National Bank of Greece (NBG) shares are down 1.01% to $1.96 in after-hours trading as volatility in Greek politics hurt Greek stocks across the board this week. The stock fell 4.8% on more than double is average daily volume in intraday trading today.
Greek Prime Minister Antonis Samaras surprised investors on Monday when he called for a snap presidential election that could potentially elect a government that would rather default than pay back the $297 billion in Eurozone bailout loans the country has received over the past couple of years.
If Samaras' presidential candidate fails to win then snap national elections will be triggered with the left leaning and anti-bailout Syriza party most likely to win, according to the Globe and Mail.
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TheStreet Ratings team rates NATIONAL BANK OF GREECE as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate NATIONAL BANK OF GREECE (NBG) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."