WaMu stock is off by 14 percent today due to 380 million shares being held by short sellers, those who believe the mortgage crisis will drive WaMu stock down even further.

Washington Mutual (NYSE: WM) is one of the banks who the street believes holds a huge exposure to subprime mortgages.

WaMu Stock - Short Sellers

WaMu Stock is off trading at it’s lowest point since 1991 on investor concerns over its exposure to risky subprime mortgages. Washington Mutual just sacked their CEO who lead the company aggressively into the subprime mortgage market in an effort to restore investor confidence.

I wrote about that in a post called, “Washington Mutual (WM) Fired Subprime Mortgage Loving CEO“.

WaMu is now paying for their greed-driven lust for the once high-paying subprime mortgage products.

I hope you weren’t invested in their stock.

Of course, If you’ve been reading my stuff for any length of time, I’m sure you aren’t.

Good Luck!

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