Tears dropping Day for Investors of Toronto Dominion Bank

Today is a tear dropping day for investors whom have purchased the Toronto Dominion bank(TD.TO) stocks within the last week. TD has been recorded as the most active stock on the Toronto Stock exchange for the day, due to a total growth rate of -4.97%. This occured shortly after the announcement of the acquisition of America’s Commerce Bancorp(CBH) at 6:55am EST, the stock price dropped from a high point of 76.33 Cdn to a daily low of 72.18Cdn and slowly climbed back up to a close price of 72.54Cdn.

This sudden drop is not completely surprising to some, when I read that article this morning, the first thought was TD’s acquisition of CanadaTrust back in the 1990s. That step took TD’s stock price, at the time was around 40 to 45 Cdn, and lowered it to 20-30 Cdn.

 So, my predictions are, it would drop to around 72ish, providing no upcoming negative news with CBH, otherwise, there may be a chance we’ll see 6oish prices.