Goldman Stock Nears 2010 Lows

Tyler Durden's picture

And so, what goes around, comes around. Goldman Sachs, which in mid-2010 hit a two years low of $130 following an SEC probe that found the firm neither admitted nor denied it used its clients as Sofitel maids, the stock is once again threatening to take out the critical $130 level. At last check the stock was down 3%, just above its $134.20 May 2010 pivot low. If this is taken out, $130 is next, and then it is free fall, and the long-desired MBO gets a full green light. In the meantime, next week could see the launch of a possible criminal inquiry into the firm as was reported yesterday which will certainly force a retest of lows.