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.