Remember, the theme of Q1 was ‘Dash For Trash’.
All of the most unloved assets from 2011 were getting bid up like crazy: We saw that in far-flung places, like Egypt, Greece, and shares in Bank of America
Well, in the last several days there’s been a regime change.
For weeks the Egypt bubble has been bursting. And now another: Bank of America.
In his latest note, BTIG’s Dan Greenhaus passes on the eye-opening stat: The mega-bank is off 14% in 10 trading days. Ouch.
Bank of America