Here's Why Bank of America's Stock Could Hit $30 This Week

Here's Why Bank of America's Stock Could Hit $30 This Week

Shares of Bank of America (NYSE: BAC) are surging yet again on Monday, after the Senate voted late last Friday in favor of cutting the corporate tax rate from 35% down to 20%.

There's still work to be done on the tax bill, as it has to be passed by the House of Representatives as well, but the progress sent shares of the nation's second-biggest bank by assets up by 4% in intraday trading today.

All told, shares of Bank of America have climbed nearly 10% in the past week. That compares to a 2% gain on the S&P 500. And if Bank of America's stock sees another day like today, it will eclipse $30 per share for the first time since the financial crisis.

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Source: Fool.com