In a short public life, Synchrony Financial (SYF) is having its worse day. The stock is down over 12% as the financial forecasts higher credit losses in the next year. The company is forecasting a 20-30 basis point increase in the net charge-off rates over the next 12 months. As such, the company will have higher provisions for loan losses from the Q1 levels. The net charge-off rate in Q1 was 4.7% so a 30 bps increase is meaningful, but at the same time the stock only traded at 10x forward EPS estimates. The sell off appears over done. With the stock trading at the lows for the day, Synchrony likely trades back towards the February low around $24. The stock appears cheap with this move over done, but the market is going to go where the market wants to go. Disclosure: No position