Ok - here it is:
All 825 Million shares offered were ate up by big institutions and are in strong hands.
Bank of America should run hard because of this - they will no longer have financial problems and will probably run back to th $30's - get them while you have a chance!
UPDATE: BofA Offering 825 Million Shares At $10 Per Share-CNBCLast update: 5/19/2009 5:46:33 PM(Adds size of share offering; Faber reporting) DOW JONES NEWSWIRES Bank of America Corp. (BAC) is offering 825 million shares at $10 a share in an attempt to raise $8.25 billion, CNBC's David Faber reported Tuesday. The bank may also seek to exchange some of its preferred shares for common shares after investor inquiries, Faber reported. Bank of America closed down 4% Tuesday at $11.25, and was trading down about 4.5% after hours. Bank of America would not comment to CNBC. Web site: www.cnbc.com -Dow Jones Newswires; 201-938-5500 (END) Dow Jones NewswiresMay 19, 2009 17:46 ET (21:46 GMT)
My post are opinions only - Please do your own due diligence before investing.
