Do you see this stock hitting $8.00-$8.15 within the next week? I made money playing this stock over the past few weeks but after trading a few times today, I bought at 8.02 and was planning on holding for a week or two hoping more good news was to follow and some covering to drive up the price more. After researching in more detail today, I am so confused on what to expect. Long term, I see it being there but I personally hate BOA so I never want to do anything long term with them. I am looking for a few opinions from people who play and know this stock well. Would you cut your losses or do you see the stock hitting $8 and breaking over it in the next (7) days? No Bashers or Pumpers please, almost impossible request I know. I prefer good educated opinions and thanks in advance.
I am not a basher but no way in hell would i own this stock after the deal that Buffett got. 700 million warrants for free that are worth easily 3 billion. That's not counting the preferred and the 6% dividend. That deal is a license to steal. Either they are really desperate for cash or they are plain stupid. 700 million warrants with a 10 year expiration. Holy crap. What a deal for Buffett.
You do realize that the stock would have to be worth $11.43 per share for Warren's option to be worth $3 billion, don't you? That's 700 million shares at $7.145 making a profit of $4.29 per share. So where do you get the idea that he got "700 million warrants for free that are worth easily 3 billion."?
Apparently, you think there is some nice upside to the stock price.
The options being sold today were mostly telling me we head back to 7 but longer term I think we will march back to 10. Lots of day traders all over this stock me included so swings will remain large. Alot can happen in a week so enjoy the ride.
It really troubles me how the CEO said they didnt need to raise capital and then they did this. Reminds me of the Countrywide CEO years back on Cramer saying they were fine and had very little exposure to the sub prime market and then within 30 days at a company meeting, he announced they were going under!
I am in the business of making money so I never let feelings get in the way. BOA is horrible in the RE industry so that is why I do not care for them. Being a member of Yahoo Finance for 7 years, I know its very hard to get an honest opinion but usually every stock has a few good educated posters for the up and downside