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Wells Fargo 2016: A Year in Review
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The year gets off to
a rough start, with
bank stocks
trending down.
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When oil falls below $30 a barrel
in January, there’s worry that
banks will take loan losses from
energy companies. This weighs on
bank stocks.
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Wells Fargo bottoms
out at $45 a share on
Feb. 11th.
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Oil heads higher,
fitfully, followed
by bank stocks.
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Voters in the United
Kingdom vote in June
to leave the European
Union, throwing
markets into turmoil.
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Bottoms out at $45
on June 27.
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Bank stocks mount a
recovery, as investors
come to terms with
“Brexit.”
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Regulators reveal a multi-year
fake account scandal that took
place at Wells Fargo.
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Bottoms out at
$43.75 on Oct. 4.
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CEO John Stumpf
resigns on Oct. 12,
replaced by
president Tim Sloan.
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The presidential election causes
bank stocks to soar in response
to Trump’s vow to deregulate
banking and cut taxes.
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The post-election rally
allows Wells Fargo’s
stock to finish the year
in the black, up 4%.
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Investing geniuses David and Tom Gardner just revealed what they believe are the 10 best stocks for investors to buy right now… and Wells Fargo wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks!
10 Stocks Better than Wells Fargo