Posted on 12/19/2011 5:07:51 PM PST by Nachum
NEW YORK (Reuters) - Shares of Bank of America Corp closed below $5 on Monday for the first time since the depths of the bear market in March 2009.
The stock closed at $4.99, down 4 percent, after dropping as low as $4.92. The shares haven't closed below $5 since March 11, 2009.
Shares of financial institutions have declined on worries about the global economy and possible exposure to sovereign defaults in Europe.
Bank of America, in particular, faces concerns about whether it has enough capital to absorb mortgage-related losses and meet new international standards.
With more than 275 million shares traded so far, the volume-weighted average price was $5.0336. Bank of America accounted for roughly 6 percent of composite volume on the New York Stock Exchange, NYSE Amex and Nasdaq.
(Excerpt) Read more at ca.news.yahoo.com ...
The list, Ping
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Talking heads on CNBC were having a hissy fit over this today.
How many BofA bonuses will be issued for 2011 performance?
Looks like a great time to buy. LOL.
U. S. Banks are now subject to international regulations. Since when?
Are we a sovereign nation or not?
What the hell is that all about?
HAHA...that douchebag Buffett bought a ton at $7. Buh-bye!
3 1/2 months ago when BAC stock was $6.30 Warren Buffet sunk in $5 Billion. Now it’s $4.99. How’s that for consumer confidence?
It is time to buy real asserts. Stuff you can hold in your hand or sit on, asserts like food, clothing, shelter, guns ammo, bibles, land, wood stoves, canning apparatus, fuel of all kinds, etcetera.
Couldn’t happen to a better bunch of cheapskates and whiners. I have 3 weeks of sub-contracting out with them and done. It is enough.
There’s a special trick to how he bought those shares.
well at least I won’t have to hear sickening praise for Buffet from my lib friends for awhile
Not a big deal for Warren. I hear he’s “undertaxed” anyway.
The real price of B of A is $0.99, but there’s an undisclosed $4 fee on each share…
You could always give your lib friends a good razzing about Buffet and BoA.
Ever since our IRS and Government decided that all other banks around the world have to report on any US citizens’ holdings in their accounts - even if the bank doesn’t have any US presence... The world is getting tired of our uppity Government and IRS - about time, most of the US citizens are tired of it too!
Ouch!
Don’t you realize Obama has won back full respect for us around the planet? :^)
There’s sertainly a grain of truth within your comments.
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