Is the Worst Over for Bank of America?
The banking sector has been one of the worst-performing parts of the market in 2020. Not only does the record-low interest rate environment make it difficult for banks to earn a decent profit margin on their lending operations, but the pandemic's economic effects have created a ton of uncertainty going forward.
Bank of America (NYSE: BAC) has been no exception to the pain in its sector. Even after the market's incredible rebound from the March lows, the bank's stock price is 27% lower than where it was at the beginning of 2020.
With that in mind, here's a look at how Bank of America has fared so far in 2020 and what investors need to keep in mind going forward.
Source Fool.com
