Keep your stops tight and your sphincter tighter.
This is a risky little game and it would be a shame to add the price of underwear to your other transaction costs.
The stock closed at $7.76 up 57 cents (7.93%)
From Deal Journal:
Fairholme Capital Management, the mutual fund management company run by billionaire investor Bruce Berkowitz, added to its massive holding of Bank of America during the prior quarter, according to a filing Monday, though reduced its stake in investment bank Morgan Stanley.
The stake of 99.65 million shares was increased by 7 million shares and was worth $1.09 billion at the end of June, according to the filing. It would be worth about $762.3 million as of Monday’s closing prices.
Berkowitz last week had invited all “skeptics” of Bank of America to join him on a conference call with the bank’s Chief Executive Brian Moynihan where the investor pledged to ask the toughest questions submitted. The call came amid a brutal week for the stock in the nation’s biggest bank by assets, but shares still fell further that day. The stock, which ended last week down 11%, climbed 7.9% Monday but remain down 42% this year....MOREEarlier:
Time to Bet on Bank of America (BAC)