January 16, 2009

Watching Our BofA Stock Fall Gives Me Something To Do

. . .but it’s expensive entertainment.

We purchased 106 shares of Bank of America stock (symbol: BAC) on January 7 for $14/share. It is currently worth about 1/2 of what we paid for it. Opps. Apparently, the drop in share price is the response to Bank of America seeking additional government aid to absorb credit losses at Merrill Lynch, which they bought on January 1.

We didn't expect the stock to go up immediately, but we also didn't expect it to plummet either. We will wait and watch.

4 comments:

J. Money said...

oh jeez, yeah i forgot you guys picked them up...it could have gone the other way though, ya know? as long as you're cool w/ being patient, i have faith they'll be back on the up and up :)

Caren said...
This comment has been removed by a blog administrator.
Dreamer said...

At least your not like me. I bought the stock back when it was about $54 a share. Still holding on to it.

1MansMoney said...

Man, sorry to hear about that Dreamer. I guess I shouldn't complain too much.

-1MansMoney