On July 15, on Meredith's downgrade, Wachovia opened at $8.68, and traded as low as $7.80, closing at $9.08. The stock traded 209 million shares that day.
Today, Wachovia closed at 18.98. Up over 100% in two weeks.
People said that the banks would bottom when Meredith Whitney would give them the all clear.
Her pounding the table "sell call" was the bottom!
"Prospects for shareholder returns are bleak?"
Only if you were a shortseller!
2 comments:
one analyst never stronger than
the whole market.
Especially when they have an agenda!
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