Remember they priced their secondary offering at 11.75 or so a month ago. I am thinking any break of that level will have investors looking for the exits.
Also BOFA is set to release earnings on July 17, 2009. Most foolish analysts are predicting a profit of .26 cents a share. They will post a loss due to more markdowns at Merrill, further credit write offs, and a record $13 Billion in credit loss provisions....Bank On That!
Interesting comment on the secondary offering at 11.75...it looks like the street wants this above that level at all costs.
ReplyDeleteInteresting comment on the secondary offering at 11.75...it looks like the street wants this above that level at all costs.
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