Bank of America (BAC) Continues Free-Fall
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Bank of America (NYSE: BAC) is under extreme pressure again today. The stock is currently down 18% to $3.85.
The stock is trading like it is going to be nationalized - slicing through the $4 level.
Similar trading was seen in Citigroup (NYSE: C) before the Fed stepped-in to rescue it. Yesterday, Bank of America's (NYSE: BAC) Ken Lewis tried to rally the troops saying "January performance was encouraging" in a memo. This was another thing Citi tried before being rescued. Just a coincidence?
The stock is trading like it is going to be nationalized - slicing through the $4 level.
Similar trading was seen in Citigroup (NYSE: C) before the Fed stepped-in to rescue it. Yesterday, Bank of America's (NYSE: BAC) Ken Lewis tried to rally the troops saying "January performance was encouraging" in a memo. This was another thing Citi tried before being rescued. Just a coincidence?
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