Almost 3 Years Ago
2 Min Read

BAC up 6%. Lets find out what's happening:



Bank of America Corp (BAC) is trading 6% higher at $31.805 today.

Bank of America Corp has been trading between a 52-week high of $49.58 and a 52-week low of $29.67. The stock has a market cap of $256 Billion.

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,900 lending centers, 2,500 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,300 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 31 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.




Headlines


Citi, Goldman, BofA in talks with regulators over texting fine
Reuters 07-15-22

Bank of America may post higher Q2 NII, but other factors may push earnings down
Seeking Alpha 07-15-22

Bank of America has been fined $225 million for ''botching'' unemployment benefit payments during the pandemic
Business Insider 07-15-22

Wells Fargo (WFC) Stock Falls as Profit Tanks 48%
InvestorPlace 07-15-22

Nvidia Earnings Preview: BofA Sees ''Strong Chance of Weak Outlook'' on GPU Headwinds By Investing.com
Investing.com 07-15-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

orteg3940 - 3 upvotes - source
>Bank of America, $BAC, fined $100 million by the Consumer Financial Protection Bureau.

TransCuckedElon - 3 upvotes - source
damn BAC was the fucking easiest sympathy play with citi destroying earnings like that 31C were 7x from open didnt buy shit, i gotta stop focusing on tech so much

csoccer2012 - 3 upvotes - source
Rest of my cash is going to BAC puts for next week. No way they can miss earnings and jump 7% like WFC right guys?

CleanTemporary - 2 upvotes - source
If BAC could go back over 35 that would be great.

deca-d - 1 upvotes - source
you didn't say crash bruh you said how to short. and like literally every fucking bank (BAC, JPM, WFC) that's publicly traded (i.e. a stonk, bruh) is heavily exposed to mortgage lending, either as a secondary lender to other smaller mortgage brokers or directly to clients/homeowners.

GermyBones - 1 upvotes - source
Made my BAC literally double from yesterday's low lol. I sold about 75% of them and kept the rest. Expecting this to continue.

UnderB0SS - 1 upvotes - source
Is $BAC earnings before or after the bell Monday?

GermyBones - 1 upvotes - source
Why would BAC be up 5% when every other bank misses earnings? Fucking retard market out here. Averaging these down but everything else I'm out.

Capitalistpig2112 - 1 upvotes - source
Yeah, I just went into Wells puts. More or less what I'm thinking. Would do BAC as well but that's the first thing after a weekend and fuck that.

Frequent-Length-9966 - 1 upvotes - source
Well so much for my BAC calls. Shit quakes Randy.