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Investing

Bank of America Falls to $5/share (BAC, JPM, GS, MS, WFC)

Photo of Paul Ausick
By Paul Ausick Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Shares of Bank of America Corp. (NYSE: BAC) posted a new 52-week low today at $5/share. BofA isn’t the only loser in the financial sector — JPMorgan Chase & Co. (NYSE: JPM), Goldman Sachs Group, Inc. (NYSE: GS), Morgan Stanley (NYSE: MS), and Wells Fargo & Co. (NYSE: WFC) are sharing in the pain.

One factor is the decision by the US Federal Reserve Bank to adopt the Basel III rules which require the banks to hold more of their capital in reserve. Another is the comment by the European Central Bank’s president that much uncertainty and substantial risk still remain in the economic outlook for the Eurozone.

The higher capital reserve requirements are hitting the big banks the hardest, as investors fear that increased reserves will weigh on profits. And the weakest of the banks, at the moment, is perceived to be BofA, so it is getting hit the hardest.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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