Wall Street Mid-Sized IB Jefferies Stock Plummets 10%... $13 Billion Vanishes in a Day

Jefferies Financial Group Inc. (NASDAQ: JEF) tumbled 9.7% to close at $52.32 on the New York Stock Exchange on the 24th, shaving its market capitalization down to roughly $10.7 billion (about ₩15 trillion). In a single session, the firm lost around $950 million in market value—equivalent to roughly ₩1.3 trillion—as trading volume spiked amid a wave of sell-offs driven by disappointing results. (Source: stockanalysis.com)

In its Q2 FY2026 earnings report released the previous day, Jefferies posted net income of $226.2 million and earnings per share of $1.02, falling short of analyst expectations. Weakness in its asset management division offset strong performance in dealmaking and underwriting, prompting shares to weaken in after-hours trading. Although Goldman Sachs recently raised Jefferies’s price target to $66, citing robust capital‐markets momentum, the latest quarterly results have put near-term investor sentiment under pressure. (Source: investing.com)

Headquartered in New York, Jefferies Financial Group is a pure-play investment bank and capital-markets specialist offering M&A advisory, equity and debt underwriting, trading, and asset and wealth management services. Formerly known as Leucadia National, the company rebranded in 2018 to align with its focus on investment banking and capital markets. Over the past few years, it has expanded its presence among mid-tier investment banks by growing its share of dealmaking and capital-markets activity. (Source: stockanalysis.com)