Canadian Imperial Bank of Commerce shares slip and underperform market
Updated
Updated · MarketWatch · May 7
Canadian Imperial Bank of Commerce shares slip and underperform market
10 articles · Updated · MarketWatch · May 7
The stock fell 0.26% to C$150.57 on Friday as the S&P/TSX Composite Index rose 0.65% to 34,077.76 in a broadly stronger Canadian session.
CIBC closed 2.4% below its 52-week high of C$154.25, reached on 6 May, while trading volume was 1.8 million shares, below its 50-day average of 2.8 million.
The move followed a steeper 1.31% decline on Thursday, when the wider Canadian market also fell, highlighting continued relative weakness in the bank's shares.
With analysts split on its value, is CIBC a deeply undervalued giant or a bank dangerously exposed to Canada's economy?
As Canadians face a 'mortgage renewal shock,' can CIBC's strong balance sheet truly weather a potential housing downturn?