Are Stock Sales Finally Taking A Toll On BofA (BAC)?
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After trading higher earlier, shares of Bank of America (NYSE: BAC) has now dipped into the red. This could be a sign that all the supply of equity coming to the market is starting to take its toll.
Bank of America currently has a ATM (At the Market) Equity Offering covering the sale of up to 1,250,000,000 shares of common stock. The ATM equity offering allows stock to be sold on a daily basis.
Bank of America needs an additional $33.9 billion capital buffer to satisfy the government's stress test.
Shares of Bank of America are down 3.5% currently to $11.32, but still up 350% from the lows.
Bank of America currently has a ATM (At the Market) Equity Offering covering the sale of up to 1,250,000,000 shares of common stock. The ATM equity offering allows stock to be sold on a daily basis.
Bank of America needs an additional $33.9 billion capital buffer to satisfy the government's stress test.
Shares of Bank of America are down 3.5% currently to $11.32, but still up 350% from the lows.
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