Either buybacks for the quarter have started or preparing for earnings run. Usually doesn't start till about 2 weeks before. Earning release date is October 13th. About 4 million extra shares exchanged hands today which is about 165 million dollars. total volume today over 14 million. Still great entry here under 42 imo what do you all think
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Let the short squeeze begin should really give us a push into earnings
Volume is definitely trending up up over a dollar today
IIRC they have bought a bunch of shares recently, so they had no vested interest in working to lift the cap.
So why hasn’t Vanguard gotten this asset cap lifted after 7 years?
Doesn't matter if we have regulatory issues or not if the powers at be decide it's so. Doesn't Vanguard own a large chunk of WFC these days? If so, they can get all kinds of asset caps lifted. Maybe the shady as he-l money is on to something...
The newer CEO at Wachovia bought $16 Million worth of stock for himself 2 weeks before we were shut down. He also told Mad Money viewers that out of $500 billion in loans on the bank’s books, only $10 billion were bad.
ANYONE WHO WORKED AT WACHOVIA THROUGH THEIR FAILURE KNOWS NOT TO TRUST ANYTHING YOU READ OR HEAR - ESPECIALLY FROM OUR SENIOR EXECS. THEY WILL ALL TRY TO COVER THEIR AS--S RIGHT UP UNTIL THE BITTER END.
SEE ENRON.
Knowing what I know about how shoddily the bank does business - I would never put money in to it. Also - I do not want to increase my exposure/risk to Wells by both working here and owning the stock. Finally if the bank is starting to buy shares for it’s buyback program - they like to buy aggressively to give the illusion of momentum in the stock, but it always comes back down when they’re done.
If they put it in to an algo - which I’m sure they did- it doesn’t take long for the street to pick up on it and try to run ahead of the order.
I can only imagine the possibilities if we were better at eliminating highly compensated useless sleeping turds who call themselves managers.
The stock is a great value. The sad truth is the company will make lots of money even with all its inefficiencies and mediocre middle/low level management.
I think @OP is the stupid money.
Smart people have already dumped all of their WF stock.
Dump it before it tanks