Bank Of America Corp. Stock Rises Friday, Still Underperforms Market

Cheetah Net Supply Chain Service Inc

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Company profile

Cheetah Net Supply Chain Service Inc. is a supplier of parallel-import vehicles in the United States to be sold in the People’s Republic of China (PRC) market. The Company and its wholly owned subsidiaries are primarily engaged in the parallel-import vehicle dealership business. In the PRC, parallel-import vehicles refer to those purchased by dealers directly from overseas markets and imported for sale through channels other than brand manufacturers’ official distribution systems. The Company purchases automobiles, primarily luxury brands such as Mercedes, BMW, Porsche, Lexus, and Bentley, from the U.S. market and resells them to its customers, including both U.S. and PRC parallel-import car dealers. The Company holds 100% of the equity interests in the subsidiaries, such as Allen-Boy International LLC, Canaan International LLC, Pacific Consulting LLC, Canaan Limousine LLC, Entour Solutions LLC, Spirit Solutions LLC, and Cheetah Net Logistics LLC.

Bank Of America Corp. Stock Rises Friday, Still Underperforms Market

4:33 pm ET May 26, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Bank of America Corp. (BAC) inched 0.50% higher to $28.31 Friday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index rising 1.30% to 4,205.45 and the Dow Jones Industrial Average rising 1.00% to 33,093.34.

This was the stock's second consecutive day of gains.

Bank of America Corp. closed $10.29 below its 52-week high ($38.60), which the company reached on November 11th.

The stock underperformed when compared to some of its competitors Friday, as JPMorgan Chase & Co. (JPM) rose 0.94% to $136.94 and Wells Fargo & Co. (WFC) rose 0.81% to $41.23.

Trading volume (57.6 M) remained 1.4 million below its 50-day average volume of 59.0 M.

Data source: Dow Jones Market Data, FactSet. Data compiled May 26, 2023.

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

May 26, 2023 16:33 ET (20:33 GMT)