How long before more bad press comes out and tanks it yet again?
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set up an automatic payroll deduction on Shareowner a month ago to buy the ESPP and none of my paychecks show it working yet. Can't even buy the stock if I try to!
Seems doubtful. Most employees don't stay on top of these things, and a lot of shares trade hands every day. I imagine employees selling won't have much of an impact. A look at previous years doesn't show dramatic fluctuations that are inexplicable on either side of the match date(s).
What is REALLY going to be interesting is what the stock price does on the day BEFORE the 401k match, and on the day AFTER.
Yes, at least for a while WFC likely won't outperform the market. When the asset cap is lifted, growth is back on the table and owning some WFC might not be a bad thing. Since I already have a lot invested just by working here, I don't hold company stock (from the match) for long. Unless you're one of the lucky professionals that can beat the market, diversification is always a good idea.
Let's be honest, folks. At 20 per share, WF was obviously a good buy.
But at 50...? Come on, man!
It's a Hold at best at this point, and with more news coming out, I bet the smart money has already bailed.
Selling my shares and move it to ETH.
Yeah, ok.
Insider info says WF will be getting back in the Security Guard business.
That's the cause for the jump.
Anyone else remember it being in the $60's?
Thanks OP, just sold the last of my WF at a very nice profit. Fun times.
Already here :)
Wells Fargo now sees regulatory issues as 'likely'
Wells Fargo & Co. WFC materially negatively changed the language on potential regulatory issues in its third-quarter 10-Q filing, according to JPMorgan analyst Vivek Juneja. For the most recent quarter, the bank said it is "likely to experience issues or delays along the way" in satisfying regulators. Past filings contained the phrase "may experience issues or delays" starting in the first quarter of this year. "There were no details on these issues or delays in the 10-Q - the only news this year has been the OCC's consent order and fine from September," Juneja said in a note released Wednesday. "The key risk is that any further issues or delays would increase scrutiny and could further delay the asset cap getting lifted given Fed Governor Powell's comments from late September that Wells Fargo's asset cap will stay until the bank has comprehensively fixed its problems." Powell also said the Fed is very closely monitoring Wells Fargo and would take appropriate actions if Wells fails to meet the Fed's expectations, he said. Meanwhile, Wells Fargo's legal costs not yet accrued for rose by $200 million to $3 billion for the bank's third straight quarter of increases. Wells Fargo shares rose by 0.5% in morning trades.
Wells Fargo is a great company.