What a piece of sheet.
Wells Fargo is a losing proposition for everyone except our executives.
8 replies (most recent on top)
I made money bought $23 sold at $58, don't know about other shareholds
For anyone who thinks they have a chance to make money on WFC stock:
+ You don’t know enough about the inner workings of the bank and the motives of the C-Suite
+ You haven’t paid attention to the fact that the stock can’t maintain a higher price even with Charlie spending $20 Billion on Corporate Stock Buybacks last year.
+ You haven’t put together that Charlie has yet to accomplish his “#1 Priority” of getting us out from under the Federal Asset Cap. No ETA even on the table.
+ You don’t understand the depths of the inadequacies of our technology.
+ You don’t get that the main reason people/institutions wanted to own the stock was for the dividend. Charlie hasn’t bothered to raise it.
+ You believe the lies that Charlie spews.
+ You weren’t around for the financial crisis to witness all the terrible leaders, fraud, greed and dishonesty.
Your assignments: Watch the Madoff documentary on Netflix. Watch American Greed. Watch Enron The Smartest Guys in the Room. Watch LulaRich. Watch Dirty Money. Watch Inside job. Read the news and research the bank you work for.
Past performance is no guarantee of future results.
The stock has definitely been weak but it looks pretty cheap all things considered. I’m not buying more or anything, but I’m going out of my way to sell the stock I got from the 401K match.
If we get lucky and lose the asset cap, the stock could go up 20% in a day. I’m not banking on it, but there is some potential for it to happen.
It'll go back up. Eventually.
How do you think executives get paid?
I thought wells is considered a ‘value stock?’ As far as I know, these are the ones that will certainly be great (eventually) or something like that. Pardon my ignorance but I literally know nothing about stocks.
Ironically the stock outperformed the market in 2022