Bank of America Corp. (BAC) experienced a significant rally on Friday, with shares surging by 2.90% to reach $28.42. This positive trading session extended to the overall stock market, as indicated by the S&P 500 Index (SPX) rising by 0.94% to 4,358.34 and the Dow Jones Industrial Average (DJIA) increasing by 0.66% to 34,061.32.
Fifth Consecutive Day of Gains
Bank of America Corp. has now witnessed its fifth consecutive day of gains, displaying a strong upward trend in its stock performance.
Close to 52-Week High
Although Bank of America Corp. closed at $28.42, it was just $10.18 short of its 52-week high of $38.60, which the company achieved on November 11th.
Outperforming Competitors
On Friday, Bank of America Corp. outperformed some of its competitors in the market. JPMorgan Chase & Co. (JPM) saw a 1.12% increase, reaching $143.00, while Wells Fargo & Co (WFC) experienced a 2.74% rise, reaching $41.62.
Impressive Trading Volume
The trading volume for Bank of America Corp. reached 60.8 million shares on Friday, surpassing its 50-day average volume of 46.2 million shares.