Bank of America Corp. (BAC) experienced a notable rally on Tuesday, with its stock surging 1.26% to reach $29.02. The overall stock market also saw an impressive trading session, with the S&P 500 Index (SPX) rising 0.67% to 4,439.26 and the Dow Jones Industrial Average (DJIA) increasing by 0.93% to 34,261.42.
Third Consecutive Day of Gains
This surge marks the third consecutive day of gains for Bank of America Corp. The company’s stock closed at $9.58 lower than its 52-week high ($38.60), a milestone achieved on November 11th.
Mixed Performance Compared to Competitors
While Bank of America Corp. experienced significant growth, it showed a mixed performance in comparison to some of its competitors on Tuesday. JPMorgan Chase & Co. (JPM) saw a rise of 1.56% to $147.42, and Wells Fargo & Co. (WFC) witnessed a 0.99% increase to $42.74.
Lower Trading Volume
The trading volume for Bank of America Corp. on Tuesday stood at 40.7 million shares, which is 5.1 million shares below its 50-day average volume of 45.8 million.