Goldman Sachs is in a record losing streak

The legendary investment bank is in a bit of a slump. Not only is Goldman Sachs (GS) the second-worst stock on the Dow this year, but its shares have declined 11 straight sessions through Wednesday.

That’s the longest losing streak for Goldman Sachs since the Wall Street firm went public in May 1999.

The recent slide has erased about 6% of Goldman’s market value. However, that’s a far cry from the steep sell-offs during the terrifying days of the financial crisis that erupted exactly a decade ago.

For instance, when Lehman Brothers imploded in September 2008, Goldman Sachs fell eight days in a row, losing more than one-third of its value.

Still, the recent slump underlines the challenge ahead for Solomon, the company’s co-president.

 

Source: CNN Money

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