Shares of Bank of America Corp. (BAC) showed upward momentum on Thursday, with a notable increase of 1.06% to reach $29.67. This positive movement took place within a favorable trading session for the stock market overall. The S&P 500 Index (SPX) rose by 0.85% to 4,510.04, while the Dow Jones Industrial Average (DJIA) saw a more modest increase of 0.14% to 34,395.14.
Consistent Growth: Fifth Consecutive Day of Gains
Bank of America Corp. has now experienced gains for five consecutive days, showcasing its strong trajectory in the market.
Close to 52-Week High, Set in November
The closing price of Bank of America Corp. stands at $8.93 below its 52-week high of $38.60, which it achieved on November 11th, reflecting the stock’s potential for further growth.
Outperforming Competitors: JPMorgan Chase & Co. and Wells Fargo & Co.
In comparison to its competitors on Thursday, Bank of America Corp. outperformed JPMorgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC). JPMorgan Chase & Co. rose by 0.49% to $148.87, while Wells Fargo & Co. saw a solid increase of 1.04% to reach $43.71.
Steady Trading Volume
The trading volume for Bank of America Corp. stood at 39.1 million shares on Thursday, which is 6.8 million shares below its 50-day average volume of 45.9 million.