While the stock performed beautifully in 2009, this year hasn’t been so kind to one of America’s biggest bank (although the year isn’t over yet). All that being said, is the value of Bank of America (BAC) rivaling the must buy levels of early 2009?
You might remember, March of 2009, this stock going from $5 to $20 in just a few short months. As Bank of America starts to dip down lower and lower, is it time start accumulating more shares of this stock?
Sure, many believe the economy is in for some more heavy times again and the real estate picture isn’t getting any better. All valid concerns for a financial stocks; however, at levels so low generally worst-case scenarios will be required to not make this a profitable play.
Is the stock ready to turn upward right way? Maybe not. Maybe we will dip back below $10 again, but it is definitely a good time to start accumulating some shares. Think BIG PICTURE.
Considering buying some shares now or wait to see if it gets below $10 (although you may miss the move then).