Lodging Stocks Whipsawed After Bank Seizures

• In a day that was everything that was expected, the financial indexes and individual stocks were whipsawed.
• B.Riley lowered their price target on Ashford Hospitality Trust to $6.50 from $9. They maintained their Neutral rating.
• Jon Bortz, chairman of Pebblebrook Hotel Trust has been on a bit of an insider buying spree the past few weeks. He has purchased a total of 64,000 shares between 2/28 and 3/9 at prices ranging from $14.30 to $14.67.

In a day that was everything that was expected, the financial indexes and individual stocks were whipsawed. The DJIA ended the day down 91 points but Nasdaq was up 50, the S&P 500 was down 6 points and the flight to safety continued, along with the cries that all this turmoil would stop the Fed from raising rates anymore, resulting in […]