Why Investors Are Buying Bank of America
Bank of America (BAC) is at a relatively attractive position for people interested in long term investments. Investors should follow Bank of America throughout the year in order to determine the best time to invest within this small window of opportunity. The JP Morgan Chase (JPM) trading blunder has brought stock prices in the banking industry down slightly. Due to its damaged reputation with mainstream consumers, Bank of America may experience another dip in stock price, dependent on the impending economic crisis in Europe. Bank of America is not necessarily susceptible to this impending collapse, but the perception is enough to create a more attractive stock price for investors. Bank of America is taking assertive steps in order to regain the prominence it had before the crash. Bank of America is mainly focusing on cutting back on expenditures while mitigating risks and focusing on improving core business functions.
Bank of America has cut high-salaried executive management positions whole closing many branches. The bank is also focused on divesting wealth management acquisitions like Merrill Lynch that helped add more liability than capital. Bank of America is not over-exposed to Greece, so it will not suffer mightily as the country struggles with its new government considerations and looming debt issues. The opportunity to invest in Bank of America is in 2012. After the European crisis has come to fruition, the stock price will began to climb again in 2013.To continue reading, click here.
Tagged with: adkerson-mining
Posted in Tech News