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BANK OF AMERICABANK OF AMERICABANK OF AMERICA

BANK OF AMERICA

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BAC trade ideas

BAC compared to SPX and NDX: Dot com top and bottomBerkshire Hathaway bought 33.9 million shares of the banking giant between Monday and Wednesday. That increased Berkshire's stake in Bank of America by $813.3 million to more than $24 billion. BRK holds 11.5% of BAC now. BAC chart compared to S&P500. Observe the top of both the NASDAQ and S&P BAC started bottoming when the 2 indices started falling. 2008 was a banking crisis which directly impacted BAC and it fell relatively harder than the indices. In 2020, Banks are well capitalised and backed by the FED, so chances of a banking crisis are slim. Add to that, NASDAQ is clearly overcooked at the moment(Check the historical chart. Top of the major trendline. That said, it Could also break up)
NYSE:BAC
by ashainp
BoA: Volatility cannot stay as high as it has been in 2QHere’s a Thought! 20 July, 2020, by Vladimir Rojankovski, Chief Analyst, Grand Capital Overall, financial results of the biggest U.S. banks in the second quarter were better than expected, but was given a big boost from the trading profits earned in a very volatile market. The future does not look clear as the banks were forced to build huge pileups of money to provide for future loan losses. The biggest disappointment was certainly the Bank of America’s recent earnings release. BAC’s earnings per share (EPS) fell 50% over the past year to $0.37, which, however, beat the estimate of $0.27. Revenue of $22.45 billion declined by 3.35% YoY, again, slightly above the consensus estimate of $22.01 billion. But since stock market investments for banks are the only visible remedy against bad loans, it’s worth to note several high-profile forecasts that in the third and fourth quarters of this year, trading revenues will be at least 20 to 30 percent lower than in the second quarter. Volatility just cannot stay as high as it has been in the second quarter.
NYSE:BAC
by VladimirRojankovski
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