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?