Friday, February 6, 2009

Bank of America CEO stock purchase

Bank of America (BAC) CEO Ken Lewis bought 200K shares in BAC for almost $1M this week. This follows a purchase of 200K shares for $1.2M two weeks ago. He is trying to show that this management can lead BAC out of its current crisis. Very impressive, it would be nice to see more such investments at more banks selling in single digits. BAC is up more than 1, to become a $6 stock once again, on a very good day for bank stocks.

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