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Bank of America Has Been Crushed – Here Is the Stock’s Must-Hold Long-Term Support

March 24, 2020

Via: TheStreet

With the federal-funds rate going to near zero, energy stocks collapsing alongside the price of oil, and stock market volatility roaring, the bank stocks have been crushed.

Two months ago Citigroup (C) – Get Report, Morgan Stanley (MS) – Get Report, Bank of America (BAC) – Get Report, JPMorgan (JPM) – Get Report and Goldman Sachs (GS) – Get Report reported strong earnings. Some went to all-time highs and many traded to 52-week highs.

Then the volatility hit, as investors feared a repeat of 2008. That’s despite the banks being in a much stronger financial position than they were a dozen years ago.

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