What Is Next For Bank Of America?
By Jacob Steinberg:Investors of Bank of America (BAC) are surely riding a roller coaster as we speak. The stock is one of the most volatile components of Dow Index. Last year, the stock was trading at as high as $15.25. Then the stock's price started to plunge, and downward movement did not stop until the stock price retreated to $4.90 per share. While many people thought Bank of America was on its way to become a penny stock, it started a massive rally and nearly doubled by this March. Those who bought the stock at around $5 were lucky. Just about time people started to think that the company's stock price would rally back to $15 a share, the rally came to a halt. Since March 18, Bank of America lost 11% in market value and the latest trend is downwards. Where is Bank of America headed from here?Many analysts agreeComplete Story »