If You Invested $1,000 in Bank of America in March 2009, This Is How Much You Would Have Today
Bank of America (NYSE: BAC) was one of the hardest-hit stocks in the last major bear market, triggered by a near-collapse of the financial system in the United States. But in the years since, it has also been one of the most impressive turnaround stories -- management has dramatically improved the asset quality and efficiency of the institution, and Bank of America isn't the same bank it was prior to the financial crisis.
Because of its impressive turnaround story, investors who bought during the crisis and held on to their shares have been handsomely rewarded. Here's a look at how investors who bought Bank of America stock in March 2009 have done, and whether now could be another golden opportunity to add the big bank to your portfolio.
The bear market fueled by the financial crisis started its decline in 2007 but didn't hit a bottom until March 2009. At that time, Bank of America shares reached a low closing price of $3.14 per share on March 6, as the future of the U.S. financial system was in serious doubt.
Source Fool.com
