Over-Regulation Risks Cause Exponential Bank Volumes (JPM, BAC, WFC, C, GS, MS)

Posted in block volume, General 
January 21st, 2010

We won’t bother complaining about or praising why these banks and brokers are down so much today.  You already know the proposed regulation that would basically turn banks into utilities. Here are the reactions… more importantly, look at the share volumes as of 1:33 PM EST:

JPMorgan Chase & Co. (NYSE: JPM) $41.0125, Down 5.50%
82 million shares versus average of 35.4 million

Bank of America Corporation (NYSE: BAC) $15.47, Down 6.19%
370 million shares versus average of 206 million

Wells Fargo & Company (NYSE: WFC) $27.56, Down 0.93%
52.5 million million shares versus average of 48 million

Citigroup, Inc.    (NYSE: C) $3.26, Down 5.78%
670 million shares versus average of 499 million

Goldman Sachs Group Inc. (NYSE: GS) $159.07, Down 5.20%
35.6 million shares versus average of 8.7 million

Morgan Stanley (NYSE: MS) $29.05, Down 5.16%
38.3 million shares versus average of 15.8 million

JON C. OGG

Comments are closed

-->