Tuesday, June 16, 2009

Sold My Bank of America (BAC) Stock

I have had a Bank of America (BAC) dividend reinvestment plan for several years now. I've lost a bit over $2k in it. Today, I sold all but 8 shares of the DRIP. I locked in a price of $13.23 per share.

I decided to sell since:
(1.) Worst case assumptions for bank stress tests have already been exceeded.
(2.) Money supply is fading
(3.) The stock is up 325% after hitting the bottom.

It's time for it give back some of its gains.

No comments: