Predictions? Will WFC be up or down 5 % after the first quarter results.
9 replies (most recent on top)
You'll know in less than an hour.
More than likely and sooner than later, it'll be 60 dollars and a blue sky breakout. Or, you can take a bet and short that it will visit 48-50. Either is possible in the casino.
Only a fool would invest in this place. Oh goody, $60! Been there before. Company isn't getting more valuable, the dollar is just getting worth less. Flat since 2015. Anyone invested in it just wasted a decade.
It also depends on the jobs report. Bad report could overshadow good news from the banks
https://finance.yahoo.com/m/f8e9b22e-a4f2-3606-907a-0096eda3bd31/with-earnings-coming-on-wells.html
According to IBD they say the options market is pricing in a 4.3% move in either direction. This is based on implied volatility. Now the trend of WFC is flat/chop since 3/1. But let's say it's trending up. Close at 57 so the stock could go up to 59.4. Or it could go down to 54.5.
Now last year I bet on this board and to myself that this stock would get to 40 before it got to 60. I was about to buy some Leaps but fortunately, I didn't. The stock trended up from 11/1/23 to 3/1/24. Lesson learned -- never trade in the company you last worked for.
Long time employee and I finally exited all my accrued holdings of WFC between $56->57. Was a smaller portion of my 401k holding, I honestly feel great about that.
Why can it go to $59 and not $60?
Up to 59$ (can't make 60...). We all know that the outside teams are contributing to cleaning up all of the call centers and tech systems at a fraction of the cost. They will probably announce that they will sell some of their buildings. Now the "higher for longer" they will say how much more interest income they will get, for longer before the interest cuts.
Now if the numbers aren't good they will sprinkle a little AI into the earnings report. They may talk about how the new AI model will begin to generate tested, integrated, risk-assessed systems of the future for the "firm". These AI-designed systems will be implemented and then run by the more efficient (I&P) workforce.
I got out of my short position today. But long term WFC won't get to 60 until getting to 40.
IMO, up. Not sure if 5% but definitely ⬆️.
Chuck and Mike will assure investors that $1B is going to make WF efficient. I’d then expect for WF to start making more jobs cuts in bigger chunks once a month vs the low and slow drip after every pay week.
I am NOT a fan of CS and company - but with his tenure at WF now, he has to start producing better numbers and more wins.
Probably up since efficiency will get better and NII should stay up for longer then originally expected since the interest rates will stay high for most of the year.