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What's up with Bank of America? I bought my first stock back in May and that was it. It's volatile as Hell, and I got out at a good time making 11%. it seems to fluctuate around 10% up and down every couple weeks. Today it's down about 5%, but the shocker is it released it's 2Q results which showed a strong profit and gross revenue. Why did that signal people to sell out? I don't get this shit.
Sometimes if the profit doesn't add up to what certain investors want they sometimes bail. Companies get hammered hard alot by posting less than expected earnings even if they're strong. Institutional investors carry a lot of sway too and maybe one of them got spooked by something.Quote:
Originally Posted by Doc Holliday
It's also worth noting that stocks are not completely independent. The best run company in the world with the highest excess over its numbers can still be nailed by a market downturn.
I thought we were supposed to shun BoA.
We should. BoA is probably the worst company in America.
That said. BoA is still a basketcase. They still have all the Countrywide shit over their head. The LIBOR scandal will likely touch down on them soon. And then all the other criminal activity that they will be paying out settlements for. They are closing down banks and reorganizing. There's no real clear indication of how they will be coming out of this.
Worse than Halliburton??
BOA has been circling the drain for a while now - but it's basically impossible for an American bank to go out of business. So much free money from the Fed.
My bad, I thought this thread was about economy travel.
Hmmm, that explains why many conservative states have been trying to get rid of eminent domain.
I should have known something was up when stereotypical republicans were acting like they were against big business buying people's land up from under people.