Bank Of America Shares Fall Below $5

Shares of Bank of America Corp traded below $5 on Monday for the first time since the depths of the current bear market in March 2009.

The stock hit a session low of $4.96, and with more than 245 million shares traded so far its volume-weighted average price was $5.0432. The stock closed at $5.20 on Friday.

Shares of financial institutions have declined on worries about the global economy and the possible exposure to sovereign defaults in Europe.

(Reporting by Rodrigo Campos; Editing by Chizu Nomiyama)

Copyright 2011 Thomson Reuters. Click for Restrictions.

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Comments

[lindaforobama]

11:33 AM on 12/22/2011

That's what they get - they deserve it and I hope Americans stay away from that bank. Take everything out and go elsewhere. Everytime they send me in the mail an offer for credit card (which has been a lot lately) I write THANKS, BUT NO THANKS! and send it back to them so they have to pay the postage. It's only a little something - but I am going to keep at it as long as they send me those offers.

[dtallwalk]

11:14 PM on 12/21/2011

Let's not forget the golden rule
The man with the GOLD mask the rules
But it seem the man has a lot less GOLD to make more rules to get him out ot the mess he created

[carolgregor]

10:53 PM on 12/21/2011

Let them fail. They are not people...they are corrupt corporations.

[Pod accountant]

09:38 PM on 12/21/2011

It's going under, good riddance to bad rubbish. This plague of banking is just the first though. We are entering into an age of miracles.

[itzkat]

04:46 PM on 12/21/2011

This is how we will change corporations... not sitting in a tent in Wall Street.

[Always For Real]

11:24 PM on 12/21/2011

OWS has helped raise consciousness and made some of the "we" wake up out of their apathy.

The idea of the 99% slogan is brilliant. It is easy to grasp. It shows us we're part of the group getting screwed and the results of the street demonstrations show that it will take all of us to make positive change happen. It won't be easy, but it is OWS that is trying to get us to lead the way.

I'm grateful for the part OWS has played and unlike you, I appreciate that "sitting in a tent" was a costly sacrifice a few brave, conscious souls made for the many.

[Powderfinger]

03:44 PM on 12/21/2011

How about telling us what it was a year ago, 3 years ago, before the financial meltdown, it's all-time high. You know, something we can compare it to.

For all we know, it was $1.00 a year ago and has grown 500%

[bbriani3842]

02:20 PM on 12/21/2011

It took a couple of weeks, but I "unwound" all of my on-line bills and dumped Chase yesterday.

Opened up a new account with a credit union.

Big banks can s*ck my baIIs.

[oldstuff]

02:30 PM on 12/21/2011

nice one.

[GrandmaG]

02:36 PM on 12/21/2011

BRAVO!

[lnedykstra]

01:43 PM on 12/21/2011

Good. I can't stand BOA!

[Ordinary Citizen]

12:46 PM on 12/21/2011

karma bites!

[Almondo]

11:09 AM on 12/21/2011

They would have been better off leaving the employee cafeterias open and closing the banks.

[jwilson1]

09:25 AM on 12/21/2011

Bank of America will pay for every dime they stole...by lose of customers, Fraud lawsuits settlements, reduced stock price and the cost of lack of confidence and trust.

Welcome BofA to a $5 stock!

[Ben Winslow]

08:56 AM on 12/21/2011

BOA. Bank of Arrogance!

[Lily P]

08:54 AM on 12/21/2011

PNC is next.

[Ben Winslow]

08:59 AM on 12/21/2011

PNC. Privileged Not Contributing!

[Calilover Calilover]

08:54 AM on 12/21/2011

All those seniors who have their money invested are getting destroyed by those who hate capitalism and love the regulatory socialism that destroys economies/peoples souls

[Doug Cain]

01:53 PM on 12/21/2011

Oh, I thought it was called the "Free Market." They are distroying themselves.

[Calilover Calilover]

03:11 PM on 12/21/2011

YOU WOULD BE RIGHT IF THE GOVERNMENT DIDNT FORCE THE BANKS TO LEND THE MONEY

CRAact of 1977 is a good place for you to start

that didnt teach you that in the leftist schools

[TXanimal]

02:34 PM on 12/21/2011

Hate capitalism? No, we just hate having to pay through the nose for terrible service and shady business practices. We've just moved our money to smaller local banks & credit unions.

[Calilover Calilover]

03:10 PM on 12/21/2011

Then you are out of line and touch with your "99%ers and the congressional black caucus

[themodernleader]

07:53 AM on 12/21/2011

We have a bubbled finance fueled by Bernanke's Federal Reserve. The over-capacity of banking approaches at least 60%. I am sick of seeing new banks everywhere in my desolate region while driving past the ruins of once great manufacturing centers. Rotten, corrupt, incompetent leadership has created this new economy that replaces the ancient building of pyramids, coliseums and monuments to the gods with modern building of usurious lending institutions of squandered capital and theft. Our big banks, excepting one or two, are hollowed-out, mismanaged, worthless enterprises. Are we as a government prepared to deal with their collapse?