Bank of America's Stock Just Bottomed Out
Monday was not a great day for anybody on Wall Street, but it was a truly terrible day for Bank of America. The company's stock price started a freefall following the latest bad news about Europe's economy at the end of last week and tumbled to its lowest level since the days of the financial crisis on Monday afternoon, dipping below the $5 mark and hovering around $4.90. This is a huge line in the sand," explains The Wall Street Journal's Mark Gongloff. "That makes Bank of America the worst performer in the Dow industrials. But J.P. Morgan isn’t far behind, down 2.6 percent."
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