Bank Of America Is On A Tear Today — Up Over 11%

Brian Moynihan Bank Of America

It seems everyone’s finally listening to Bank of America’s insistence that everything is fine and they have plenty of capital.

Today the stock price brushed $6.932. Right now it’s wavering between $6.91 and $6.93.

UPDATE: It’s now at $7.03, up almost 11.6% from yesterday.

Did it bottom out yesterday at $6.01? Or is this just more “irrationality,” as JPMorgan put it when the firm upgraded BofA from underweight to neutral?

If it hits $7 today that would be an amazing comeback.