After dipping by over 2% in the last five days, the HSBC stock has started the week on a high note after registering a price hike of almost 1% following HSBC’s investment of $203,000 into BancFirst Co.
Today’s developments come a day before the expected earnings report that is to be announced on Tuesday, February 22 at 11:00 PM.
To help stock investors interested in investing in HSBC stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is HSBC?
HSBC stock is the stock of HSBC Holdings Plc and it trades in the US on the New York Stock exchange under the ticker NYSE: HSBC.
In a nutshell, HSBC Holdings Plc is a British multinational investment bank and holding company that also offers financial services. It is ranked as the second-largest bank in Europe after the BNP Paribas Bank.
As of December 2020, the total equity of the HSBC bank stood at US$204.995 billion with assets worth about $2.984 trillion.
Should I buy HSBC stock today?
If you want to invest in the shares of a large European bank, then HSBC stock could be a good choice.
Nonetheless, the stock has been down in the last five days and today’s jump is not considerably large to conclude that the 5-days dip has come to an end. All eyes are on tomorrow’s earnings report, which could negatively or positively influence the future price movement of the stock.
HSBC stock price prediction
Analysts are currently tight-lipped waiting for the earnings report that is to be made public tomorrow.
If the earnings report is positive, analysts predict that the price could jump back above $38 as it continues with its previous bullish trajectory.
$HSBC social media coverage
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