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Bank of America stock nearing $5 danger zone

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posted on Nov, 30 2011 @ 01:24 AM
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Bank of America stock nearing $5 danger zone


money.cnn.com

Beyond the S&P downgrade, trading could become even more complicated in Bank of America's stock, if it falls below $5. Under that threshold, many broker-dealers will not allow investors to buy or short a stock on margin, according to a spokesperson for the New York Stock Exchange.

Buying on margin means that an investor can simply put down 50% of the price of a stock initially, and the trading firm advances the rest.

It's been a tough year for the troubled bank, which has seen its share price decline roughly 62% from the start of the year.
(visit the link for the full news article)




posted on Nov, 30 2011 @ 01:24 AM
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My face is just oh so wet with tears right now! I think there are a lot of us (myself included) that would love to see this horrible company close it's doors for good. I think they are really in 'oh poo' time right now and that if things continue to push they will fall over and die. Too many people are dissatisfied/disgusted with their practices. People are moving towards smaller banks and investors will be pulling funds when they see this. It will also be hard to attract more investors as the article states.

money.cnn.com
(visit the link for the full news article)



posted on Nov, 30 2011 @ 01:28 AM
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reply to post by Domo1
 


I feel bad for some of the actual workers though (the ones that actually do work). I hope they find nice jobs at a small business or local credit union.


edit on 30-11-2011 by MegasAlexandros because: (no reason given)



posted on Nov, 30 2011 @ 01:33 AM
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reply to post by MegasAlexandros
 


BoA is already saying they will have to lay off 30,000 people. I feel bad for them too. Perhaps a whole bunch of nice small local banks will crop up and offer them jobs. BoA going kaput is actually rather frightening. Imagine where all those loans and accounts and everything will wind up.



posted on Nov, 30 2011 @ 01:34 AM
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I wonder if bank transfer day had anything to do with this..
It would never shut its doors per say, just get brought up by another bank
What a joke tho, they would have so much money; any crap you see about these banks on the news is made up bull



posted on Nov, 30 2011 @ 01:37 AM
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reply to post by Domo1
 


While the beast is weak, there needs to be one last push. Another 100,000 withdrawals should do it. Spread the word, or don't. I'm not advocating anything.



posted on Nov, 30 2011 @ 01:37 AM
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Originally posted by Domo1
reply to post by MegasAlexandros
 


BoA is already saying they will have to lay off 30,000 people.



If they start from the top down it would suit me just fine.



posted on Nov, 30 2011 @ 01:37 AM
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reply to post by WakeUpRiseUp
 


I kind of doubt that it did. Maybe a small part. Then again it could conceivably been the tipping point to get to the tipping point.



posted on Nov, 30 2011 @ 02:00 AM
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They have lots of money. They complain and say we need to raise fees, need a bailout blah blah blah, and then they post their quarterly profits.



posted on Nov, 30 2011 @ 02:05 AM
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interesting seeing the trend on that graph after nov 5 which is bank transfer day...i think it definitely had some effect on the direction of the value of the stock after that day



posted on Nov, 30 2011 @ 02:23 AM
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reply to post by seenavv
 


Huh. You actually have a good point there. Perchance we should look at how other banks were doing that day. See if it actually looks like they were affected.



posted on Nov, 30 2011 @ 02:27 AM
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Originally posted by Domo1
reply to post by MegasAlexandros
 


BoA is already saying they will have to lay off 30,000 people. I feel bad for them too. Perhaps a whole bunch of nice small local banks will crop up and offer them jobs. BoA going kaput is actually rather frightening. Imagine where all those loans and accounts and everything will wind up.




they closed their offices up here. Not sure how many people they let go but that was a little surprising.



posted on Nov, 30 2011 @ 07:11 AM
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Bad business indeed.

I have read a lot of complaints with regard to Bank of America; but anyone actually taken the time to look at the big picture? Does anyone actually know what the consequences will be when the largest bank in the United States fails?

The situation is complicated. It has a lot more to do with your basic checking and savings account.

Please be careful of what you wish for.



posted on Dec, 14 2011 @ 08:39 AM
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Oh boy . . . Bank of America is sitting at $5.29 . . . are we looking at another colosal failure in the not too distant future???????



posted on Dec, 14 2011 @ 08:48 AM
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Originally posted by DogsNGods
Bad business indeed.

I have read a lot of complaints with regard to Bank of America; but anyone actually taken the time to look at the big picture? Does anyone actually know what the consequences will be when the largest bank in the United States fails?

The situation is complicated. It has a lot more to do with your basic checking and savings account.

Please be careful of what you wish for.


All the banks need to fail. Fiat currency was a mistake the world made and we will pay dearly for it, eventually, who knows how long we can delay the inevitable. Banks will either keep getting bailed out or just collapse, that's just the fact of the matter because they can not recover on their own. Oh, plus fight club was a great movie, just sayin.

I am with OP and hope it is sooner than later.



posted on Dec, 14 2011 @ 10:49 AM
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I wonder if B of A is just crying 'chicken little' in an attempt to squeeze a few hundred billion out of the Fed to . . . you know . . . tide them over?

Last look, it was at 5.25



posted on Dec, 14 2011 @ 12:43 PM
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Lets cut them some slack.

In Jan 08 they announced they would buy Countrywide. In March the FBI started their investigation of CW for fraud.

In Sep of 08 they were forced to choke down Merril Lynch.

They almost had to eat Lehman but the gov wouldn't guarantee the deal.

So was it Boa or the crap they were forced to eat? Plus they hold about 15% of all deposits.



posted on Dec, 14 2011 @ 01:07 PM
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Originally posted by samkent
Lets cut them some slack.

In Jan 08 they announced they would buy Countrywide. In March the FBI started their investigation of CW for fraud.

In Sep of 08 they were forced to choke down Merril Lynch.

They almost had to eat Lehman but the gov wouldn't guarantee the deal.

So was it Boa or the crap they were forced to eat? Plus they hold about 15% of all deposits.


You'd expect an organizaiton such as BofA would understand the premise of Due Diligence with respect to buying Countrywide.

But, that was when everyone was buying into the NINJA morgtages, spinning them and making a whack of dough. They got caught up in their own greed. Yeah, they took one for the team on the whole Merill thing, but if they didn't the whole show was looking 'curtains' and I think they truly believed at that time, they were positioned well when things turned around.

Problem is, they didn't and now with their unknown or unpreported exposure to the festering cauldron that is Europe, they're in a real bind and in reality, even at $5 a share nobody's much interested in touching them and for good reason.



posted on Dec, 14 2011 @ 01:41 PM
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reply to post by GoalPoster
 





even at $5 a share nobody's much interested in touching them and for good reason.


Except Warren Buffet, he bought in about $6 if memory serv's me.



posted on Dec, 14 2011 @ 01:48 PM
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The company I work for is selling the employee owned stock to another company. The money owed to the employees is to be put into retirement accounts thru Bank of America.

I told them to just give me my money.....it won't be there later if I don't get it now.
edit on 14-12-2011 by isyeye because: (no reason given)



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