Bank of America Leads Bank Volume Spike

Posted in pre-market 
July 21st, 2008

Bank of America Corporation (NYSE: BAC) is trading up over 10% at $30.50 in pre-market trading after teh company blew away earnings estimates.  The company noted lower credit quality and gave a huge loss provision but also said Countrywide would be accretive to 2008 earnings.

So far we have seen almost 3.9 million shares trade hands with over 35 minutes to the open.  Average volume is about 64 million shares.  This marks well over a 50% gain in 4 trading sessions.

Jon Ogg

July 21, 2008

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