Monday, August 8, 2011

Bank of America (BAC) Collapse in Progress as Bankruptcy Rumors Swirl

*Update: Down 17% to $6.83
*Update 2: Down 18% to $6.72

BAC is imploding as we type, and has broken below $7.
Down 15% on the day to $6.87, Zerohedge reports that CDS surges 20% to 260 bps on bankruptcy fears.
Still waiting on the S&P downgrade of BAC as well. Chart should look real pretty after a downgrade.

Bank of America Corporation Com

Real Time 6.77 Down 1.09 (15.34%) 11:38AM EDT

Bank of America Corporation (BAC)