Back over 50 next week what do you think?
11 replies (most recent on top)
Day the asset cap gets removed, i will be changing my entire 401k balance to WFC stock for a short period of time before rebalancing. Will be a glorious short term bump.
$50 is easily attainable.
Asset cap will not be removed soon. Tons of work still left to do. That said, once it is removed I would not be surprised to see an eventual uptick of 30% (over say a 6 month period).
There are tons of low risk, low yield business out there. We just don't play in those spaces thanks to the AC. We also can't be buyers of banks with the AC. Once removed, I'd bet on more acquisitions.
I think you should give Hunter Biden a foot job while you both smoke crack rock.
Have you been smoking crack with the Bidens ? No way the stock closes above 50, the OTM calls are .04, buy some if you think it is.
Post ID: @tbn+1nIrMKrz
Wells Fargo wasn’t even “in the high 70’s” when the company was at the height of their fraudulent activity.
Charlie and the execs drive the stock price up with company stock buybacks and then quietly sell their own stock through their 10b51 plans.
Smoke and Mirrors.
The cap being lifted would obviously help the stock price, but recession is looming. Not sure if anyone has noticed but a lot of discretionary spending is being curtailed, I know a lot of side gig and small time sellers of things and sales have absolutely tanked. Only a matter of time before it has an impact. In the end, I don't own WFC stock so I don't care about it's price much, but if the stock going through the roof will reduce the insistence of the BOD, OC, etc. to be even slightly less d!ck!sh, it'd be a good thing. Right now they are truly insufferable cuñt$ that seem to spend every waking moment trying to figure out how to make their employees miserable.
WFC to have asset cap removed later this year and fly into the high 70s
Wall Street is a Federally regulated casino and WF is nothing more than a corner shell game. Can we look profitable? Sure. Can we look like a bunch of incompetent id--ts? Sure. We’re only as good as this weeks spin until some past or current misdeed drags us back down again. Consistency is not our strong suit when it comes to performance. The chances of us violating public trust or having any number of hushed scandals come to light are greater than us getting to $50 a share (let alone staying there). Charlie will fumble the ball. I’m more sure of that than anything.😂
Is the svb started banking crisis over? Looking at $COF and $Axp today -- maybe not.
This twitter posts highlights
- WFC devious accounting "we can easily see how both banks really pushed the limits in terms of accounting acrobatics this time around. For example, yesterday I flagged $WFC reported a 4m$ GAIN for Q2-23 related to their Debt Securities assets" $C did even "better," booking a 49m$ GAIN! 🙄
- Deposits down -9bn$ for $WFC while $JPM (including $FRC) +21bn.
Will the people Wells hires from JPM bring in more deposits?
- none of these 3 banks still made any meaningful provision against their CRE books. Among them, I find $WFC "assessment" is the funniest one: "the vast majority of the [CIB] portfolio is institutional quality and with high-calibre sponsors." Ehmm… so what? Are those CRE loans guaranteed? No. Is "institutional quality" reassuring when filings for chapter 11 are at GFC levels? So basically $WFC is telling us that ~103bn$ of CRE loans they hold are "good" because they say so.
source: @Dariocpx https://twitter.com/DarioCpx/status/1680100457702891520
I hope so