I did the same thing buying WFC all the way down to around 22 or 23. Sold half of it around 60. Dumped the rest around 47 when it looked like it would be stuck there or lower for the foreseeable future. I like doing business with WFC, hate BoA with a passion, but the continual bad news and fines means I won't buy back in unless it hits the 20s again.
WFC in the news again with a drunk VP on a commercial flight.
YES!!!! You did great, I wanted to scream when I didnt dump it when it hit 60. Gosh, they are always in a scandal and always losing!
I worked for them part time for a short while, waiting for medicare to kick in, the CEO really seems to be trying, the training of putting people first was relentless as he tried to pull the company out of scandal and scandal (he wasnt CEO at the time of the big one)
I got out yesterday at $42.78 and took a small loss, this isnt the 401k which I have a significant holding and it is profitable but wow what a bath I took not getting out when you did.
I know about that flight, gosh, it's ALL over the news. A WF executive for their India operations.
All this negative press is surreal *LOL* and we know the group of politicians (banking committee) still have it out for WF and I cant say I blame them. For a while I thought the committee was going way overboard as the issue was settled but they wouldnt give up harassing them, so what does WF do??? They have another scandal all lines up! *LOL*
With the above said, my feeling, retail banking (brink and mortar) is falling by the wayside, as far as savings accounts and stuff that is so simple to do online but they seem to be adjusting, bank buildings are just about down to skeleton staffing in many places.
I dont know what the future holds for legacy banks anymore. Maybe retail isnt worth it to them in the future, they do have much other business, investment and commercial banking ect. There is a shift, I know, I keep some local banks but the vast, vast amount of my banking is 99% on the internet.