Posts Tagged ‘Bank of America’
Countrywide heading down the drain. Will B of A scoop them up?
Written by admin on January 10, 2008 – 1:28 pm -Well, it finally looks as if Countrywide will be done for good. Rumor on the street is that Bank of America will buy them out or merge with them in some sort of way very soon.
Countrywide has been denying their troubled situation over and over, but when you lay the facts down on paper, they ARE in trouble.
It really shows in the value of the company and their stock prices. They were valued at nearly $26 billion last year and today their worth is about $3.2 billion. The stocks 52-week high in Feb. was $45.19 and now is currently $7.75. Awesome work guys!
How any one or any company can say “We are fine” as they deplete their worth by $23 BILLION is beyond me.
