Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Closing Price
$29.03
Day's Change
0.05 (0.17%)
Bid
--
Ask
--
B/A Size
--
Day's High
29.04
Day's Low
28.48
Volume
(Average)
Volume:
57,249,944

10-day average volume:
54,273,337
57,249,944

Kaixin Auto stock pulls back after a 'surprise' rocket ride higher

6:50 am ET October 20, 2020 (MarketWatch)
Print

Tomi Kilgore

Stock has run up more than 1,400% in four days with no news released

Shares of Kaixin Auto Holdings Inc. tumbled in premarket trading Tuesday, after skyrocketing 15-fold over the past four sessions, as the China-based auto-dealership company confirmed there was no news released to explain the volatility.

"The spike of stock price came as a surprise to people in Kaixin," the company said in an emailed statement to MarketWatch.

The stock (KXIN) fell 23% ahead of the open, after it soared 293.7% on record volume (https://www.marketwatch.com/story/kaixin-autos-stock-skyrockets-on-massive-volume-has-gained-1270-in-four-days-2020-10-19) of 235.3 million shares on Monday.

It ran up 55.6% on volume of 55.1 million shares on Friday, tumbled 32.8% on volume of 6.3 million shares on Thursday and soared 266.7% on volume of 60.6 million on Wednesday. In total, the stock has gained 1,409.3% over the past four days.

The company's last 6-K filing with the Securities and Exchange Commission was on Aug. 26. At that time, Kaixin said it decided to halt its used-car dealership operations, meaning second-quarter revenue will be "significantly lower" than in prior periods, and that "it may not have meaningful revenue starting in the third quarter of 2020."

The stock closed at a record low of 41 cents on Sept. 8.

"There is no change in the status of Kaixin's business operations since the company filed the last 6-K on Aug. 23, 2020, and its dealership business is still in halt," the company said.

With the recent rally, the stock has now climbed 335.8% year to date through Monday, while the iShares MSCI China exchange-traded fund (MCHI) has advanced 20.7% and the S&P 500 index has gained 6.1%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 20, 2020 06:50 ET (10:50 GMT)

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