Oh Crap, Italian Bank UniCredit Is Spiraling Lower Again Today

Shares of Italian bank UniCredit are tanking for the third straight day today.

The stock has been clobbered all week thanks to a share offering that was priced well below market. It’s been falling at a clip of between 8-10% per day, and it’s off over 8% again in the first few hours of trading today.

Here’s a 6 month chart.

The big dropoff at the end here is unmistakable.