December 19, 2011

BOFA

Don't shed too many tears...

Bank of America shares fell more than 5% to as low as $4.92 in late afternoon trading. Investors fear that the move below $5 -- while largely psychological -- could also cause some investors to shed their holdings. Shares closed at $4.99.

"It doesn't mean that everyone will drop the stock tomorrow," said Paul Miller, a banking analyst at the investment bank FBR Capital Markets. "Stocks trading below $5 historically have a hard time recovering. You run the danger of a dead stock."

Okay, now on "3" everyone, 1, 2, 3 awwwwwwwww! Anyone have a fiddle?

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