First Republic stock soars a record 58% but may regain only about a fifth of what it’s lost in past 3 days

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While some the hardest-hit regional banks are posting record one-day rallies stocks, the gains look slightly less impressive than the beatings over the past three sessions. Shares of First Republic Bank FRC jumped to $18.05, or 57.8%, in morning trading on Tuesday, more than quadrupling their previous record one-day rally of 12.9% on March 17, 2020. But considering the stock had fallen $83.79, or 72.9%, over the past three sessions in the wake of recent bank failures, Tuesday’s surge has returned just 21.5% of that selloff. Western’s shares in other big bouncers…

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