Bitchute has a video exploring the mystery of what just happened. Apparently the anomaly shows up only on Google’s metrics, but whole hours of stock-trading are also missing from some trading sites’ reports.
Click on graphic to watch video
A story is circulating that the Royal Bank of Canada lost 64% of its share value on Friday, April 16, 2021.
It was said that RBC was disallowing customers to withdraw their funds.
Here’s one example of that story:
“Royal Bank of Canada (RY) stock lost 64.36% in the extended hour trading session on Friday, April 16, 2021. The RY stock gained merely 0.62% in the normal trading session on Friday. RY shares have surged 60.61% over the last 12 months, and they have moved up by 1.32% in the past week. Over the past three months, the stock has gained 10.67%, while over the past six months, it has added 28.30%.” (1)
If a big bank like RBC were to lose that much value, you’d think it would be front-page news in the mainstream media. Great fear porn.
Moreover, there would be a run on RBC, lineups at banks, etc., and nothing like that is happening.
Instead we have a very, very small number of sites repeating the story and the stock index itself reporting no such event:
Date | Open | High | Low | Close* | Adj Close** | Volume |
---|---|---|---|---|---|---|
Apr 20, 2021 | 117.50 | 117.88 | 116.72 | 116.75 | 116.75 | 1,659,297 |
Apr 19, 2021 | 118.42 | 118.91 | 117.76 | 117.95 | 117.95 | 8,480,200 |
Apr 16, 2021 | 118.23 | 118.79 | 118.12 | 118.49 | 118.49 | 5,376,900 |
Apr 15, 2021 | 117.72 | 118.02 | 117.40 | 118.02 | 118.02 | 8,582,000 |
https://finance.yahoo.com/quote/RY.TO/history
Moreover a friend who is an RBC customer decided to test this information and found no difficulty removing funds. He reported an acquaintance who also performed the same experiment with the same results.
I’m guessing this is a false-flag to cause fear among customers and investors of not only RBC but the banking system in general.
Footnotes
(1) Asim Kamal, “Why Royal Bank of Canada (RY) stock plummeted in after-hours on Friday?” Market Globalist, April 19, 2021, at https://marketglobalist.com/2021/04/19/why-royal-bank-of-canada-ry-stock-plummeted-in-after-hours-on-friday/.
Here was an interesting comment on a March 2021 dip in RBC’s price, which may or may not be relevant to April’s alleged incident:
Coronavirus shutdown drags Royal Bank stock price down
Karen Thomas, “Why Royal Bank of Canada (RY) Stock Price Fell 12.7% in March,” The Motley Fool, April 1, 2020
(https://www.fool.ca/2020/04/01/why-royal-bank-of-canada-ry-stock-price-fell-12-7-in-march/.)
The virtual shutdown of the economy due to the coronavirus has taken down stock markets everywhere. This is not surprising and certainly self-explanatory. But what does this mean for Canadian bank stocks like Royal Bank of Canada?
Royal Bank of Canada stock price has been hit as investors digest the fact that the magnitude of bad loans will be rising in the coming months. Many loans, from oil and gas company loans to personal loans, will be placed into question and at risk.
Even before this crisis, we have watched Canadian banks increase their provisions for loan losses at an accelerating pace. Well, this economic shutdown will clearly exacerbate this issue.
Royal Bank of Canada is a well-capitalized bank with a leading position in Canada and a $118 billion market capitalization. The bank enjoys industry-leading operating efficiency with a dominant market share in many segments.