Shares of Bank of America Corp. (BAC) faced a setback on Friday, registering a decline of 2.41% and reaching a closing price of $26.31. This dip in the stock price occurred during a challenging trading session for the overall market, as the S&P 500 Index (SPX) fell by 1.26% to 4,224.16, while the Dow Jones Industrial Average (DJIA) dropped by 0.86% to 33,127.28.
Continued Losses for Bank of America
This marked the third consecutive day of losses for Bank of America Corp., as it struggled to maintain its positive momentum. The stock closed at a considerable distance of $12.29 below its 52-week high of $38.60, which was achieved on November 11th.
Underperformance Compared to Competitors
While Bank of America faced a decline, it underperformed in comparison to its competitors. JPMorgan Chase & Co. (JPM) experienced a drop of 1.61% to $142.95, and Wells Fargo & Co. (WFC) fell by 2.21% to $40.27.
Increased Trading Volume
During this trading session, Bank of America's trading volume reached 61.1 million shares, surpassing its 50-day average volume of 42.7 million shares.