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Bank of America Corporation Message Board

  • sushibn sushibn Jan 2, 2012 10:17 PM Flag

    Cramer comments see BAC at $3 if Euro Implodes


    [2] Bank of America (BAC) - Sell

    Bank of America was the worst performing stock on the Dow Jones, returning -58.32% in 2011. Cramer thinks Bank of America is a "sell." If Europe implodes, he thinks the stock can drop to $3. The $7 price (where Warren Buffett may exercise his warrants) is unlikely to be reached.

    Quantitative analysis suggests the shares should be trading well above its $5.56 closing price. Shares trade in the $5-range because the liabilities from Countrywide Financial remain a big unknown for shareholders.

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    • If Cramer says sell, it's time to increase my position. But if it's equally true that BAC will hit 3 bucks if Europe "implodes" he's being an optimist.

      A couple things. Define "implode". If you mean capitol buildings being burnt out and leaders being strung up, then 3 bucks would be a gift.

      If you mean high unemployemnt with protracted recession, that's already a given.

      Someone somewhere put it in these terms: We'll get to a point where Europe is not a weekly crisis, but rather a condition that we all know is going to take years to solve.

      No doubt we're next if we don't stop running up trillions in deficit. The next question is when will our time come?

      BAC will survive, and even thrive. But, we're all in trouble when the piper comes around.

    • That's bull. Strong company that will survive the Euro storm

16.01-0.19(-1.17%)Aug 28 4:02 PMEDT

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