First Horizon Stock Plummets After CEO Signals Potential Acquisition Strategy
First Horizon Corp. shares experienced their steepest decline since the collapsed TD Bank merger after CEO Bryan Jordan expressed confidence in pursuing acquisitions. The stock dropped as much as 13% during trading as investors reacted to the shift from potential takeover target to potential acquirer. This represents the most significant intraday drop since May 2023 according to market analysis.
First Horizon Shares Plunge on Acquisition Comments
First Horizon Corporation experienced its most significant stock decline since the wipeout of the Toronto-Dominion Bank acquisition, with shares falling as much as 13% to $19.99 during trading. The sharp drop came after CEO Bryan Jordan indicated the bank might pursue acquisition opportunities rather than remain a takeover target, according to earnings call transcripts.