BAC now has a 4 handle

[ancona]

BAC just fell through 5$ and is sitting on $4.93 right now. The other financials are getting a bitch slapping as well. We'll see if the PPT picks up the bid, but I doubt it.

 

[pmbug]

The writing has been on the wall for BAC for some time now. Die zombie bank, die!

 

[swissaustrian]

Uncle Warren is the ultimate insider. He wouldn´t have given them capital if he wasn´t ensured that BAC would be eventually bailed out.

 

[ancona]

Uncle Warren owns preferred shares. I feel bad for the sheeple who got roped in to common stock on that one. BAC bouncing between 4.95 and 4.98.

Most large funds require substantially larger margins on a stock once it falls below 5$. Shouyld b3e interesting overnight and in pre-market tomorow.

 

[swissaustrian]

Uncle Warren owns preferred shares. I feel bad for the sheeple who got roped in to common stock on that one. BAC bouncing between 4.95 and 4.98.

Most large funds require substantially larger margins on a stock once it falls below 5$. Shouyld b3e interesting overnight and in pre-market tomorow.

You´re right I forgot about the preferred stock deal. But even given that, the bank still needs to survive and it probably won´t without US taxpayer money.

For the lulz. BACs biggest shareholders: