Prudential's entire market capitalization could be wiped out with $42 billion of unexpected losses
Is this a meaningful comparison? A company's market cap is simply a measure of how many shares it has outstanding and the price those shares command. In what sense does a loss "wipe it out"?
Is this a meaningful comparison? A company's market cap is simply a measure of how many shares it has outstanding and the price those shares command. In what sense does a loss "wipe it out"?