All this nasty scheming aside, BAC shares are likelier to rise than they are to fall in value, because that's the way Wall Street works.
The mighty Vanguard owns 940 million shares. BlackRock owns 300 million shares. Each of the venerable Citigroup, JPMorgan Chase, Dodge & Cox and Goldman Sachs owns more than 200 million shares, and a few lesser titans own in excess of 100 million shares. These big guys don't give a hoot about BAC's conspiracies, and their combined might makes BAC right. They know that BAC's book value is $20.82 per share, that there's more than $58 in cash per share (including customer deposits), that there's an operating cash flow of $37 billion, that Warren Buffett has billions invested in BAC and that the dividend may be raised later this year. And they also know that 13 of the 24 analysts who carefully follow BAC for New York's financial mafia — including JPMorgan Chase, Goldman Sachs, Citigroup, UBS and Wells Fargo — have a solid buy rating on this stock.
Please address your financial questions to Malcolm Berko, P.O. Box 8303, Largo, FL 33775, or email him at firstname.lastname@example.org.