Shares of Bank of America Corp. (BAC) experienced a decline of 1.58% on Wednesday, closing at $32.98. This drop took place during a challenging day for the overall stock market, with the S&P 500 Index (SPX) falling 1.47% to reach 4,698.35 and the Dow Jones Industrial Average (DJIA) falling 1.27% to reach 37,082.00.
Bank of America Corp.’s stock closed $4.02 below its 52-week high of $37.00, which it had achieved on February 7th.
In comparison to its competitors, Bank of America underperformed on Wednesday. JPMorgan Chase & Co. (JPM) experienced a decrease of 1.13% and closed at $166.55, while Wells Fargo & Co. (WFC) registered a decline of 1.50% and closed at $49.34.
The trading volume for Bank of America Corp. on Wednesday was 44.5 million shares, which remained 4.6 million shares below its 50-day average volume of 49.0 million shares.
Undoubtedly, the stock market’s performance on Wednesday was challenging for Bank of America Corp., as it experienced a decline in its stock value. It fell behind some of its competitors such as JPMorgan Chase & Co. and Wells Fargo & Co. The trading volume for Bank of America was also slightly below its 50-day average volume.