Tuesday, December 20, 2011

Is Bank of America Going Down?

With the stock price falling below $5, at levels not seen since the nadir of the Financial Crisis in the Spring of 2009, Bank of America has problems, perhaps very serious problems.

The stock closed at $4.99, down 4 percent, after dropping as low as $4.92. The shares have not closed below $5 since March 11, 2009.

In recent months, the 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.



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