Wells Fargo Stock: A Review of 2016
14
$40 $45 $50 $55 $60 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec PRICE PER SHARE Wells Fargo 2016: A Year in Review
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Transcript of Wells Fargo Stock: A Review of 2016
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Wells Fargo 2016: A Year in Review
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The year gets off to
a rough start, with
bank stocks
trending down.
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When oil falls below $30 a barrel
in January, there’s worry that
banks will take loan losses from
energy companies. This weighs on
bank stocks.
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Wells Fargo bottoms
out at $45 a share on
Feb. 11th.
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Oil heads higher,
fitfully, followed
by bank stocks.
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Voters in the United
Kingdom vote in June
to leave the European
Union, throwing
markets into turmoil.
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Bottoms out at $45
on June 27.
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Bank stocks mount a
recovery, as investors
come to terms with
“Brexit.”
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Regulators reveal a multi-year
fake account scandal that took
place at Wells Fargo.
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Bottoms out at
$43.75 on Oct. 4.
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CEO John Stumpf
resigns on Oct. 12,
replaced by
president Tim Sloan.
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The presidential election causes
bank stocks to soar in response
to Trump’s vow to deregulate
banking and cut taxes.
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The post-election rally
allows Wells Fargo’s
stock to finish the year
in the black, up 4%.
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