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Category: Money

Bank of America Takes a Double Dip

Written on August 23, 2011 by Japhet Writ

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Bank of America's stock went down to $6.42 despite saying that they have enough capital.

It is no brainer that the took a double dip for its shares, following which went down for almost $3. The traded more than $15 in the past two years, while a -related costs and concerns about capital requirements removed those gains in the past year.

Last Monday, headlines on both front pushed the stocks down to $6.42. And albeit the Bank of America says it has enough capital, analysts pointed out that it may need to raise a whooping $40-50 billion dollars.

Check out Business Insider’s Chart of the Day below to see Bank of America’s stock performance.

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