Wells Fargo slashes dividend by 85%

Discussion in 'Wall St. News' started by Daal, Mar 6, 2009.

  1. Daal


  2. Cutten


    The chart of that stock is interesting. It made a new all-time high in H2 2008 - way after it became clear the financial sector was getting raped. That has to go down as one of the most absurd times to buy a stock in the history of financial markets.

    Even though WFC is better managed than most, I think it's possible the stockholders get completely wiped out.
  3. m22au


    WFC may get wiped out, but before it goes, that would also happen to C and BAC.

    If we assume that all preferred shareholders convert, market cap of C is still over $20 billion at a share price of $1.