Bank Of America Is Trading Below $6 For The First Time Since February 2009

Bank of America is now trading at a disastrous $5.88, well below $6 for the first time since the crisis peaked in February 2009.

It hit a low of $3.14 on March 6, 2009. 

People (the WSJ for example) are accounting for the hit today by saying it might be related to the recent $5 monthly charge on some BofA debit cards, and the fact that the BofA website has been spotty for the past few days, which suggests poor management in its tech support area (where a lot of the big layoffs the firm is planning probably are/will be).

This is well below BofA’s book value, so many people are saying that the firm is worth more dead than alive. 

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