Smells like BS to me

BOA_shares

You know when it doesn’t pass the sniff test- it smells like BS. Bank of America gets hit with a massive fine, which would normally come out of the company’s profits forcing them to pay a lower dividend. This would generally lead to a sale off of the company’s stock, as people and pension funds reinvest (supposedly to protect their investors) into other stocks. So why did BoA stock jump after the settlement was announced?

A previous settlement against J.P. Morgan tells us some enlightening information: https://larrythecontrarian.wordpress.com/2013/09/23/predatory-lending-practices/ )

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