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Was the fine expected to be much worse? They're trading up at the moment

• nappy-doo 9y ago
  It's not as much as the fine was expected to be worse, just that the situation is now resolved. WFC can put this behind them, and move on. AFAICR, this is the last of the scandals that have rocked the bank. As soon as the cap on their assets is lifted (likely before the end of the quarter), there's nothing left in the queue holding the price back. As such, the company will be able to take advantage of the higher interest rate environment we're moving into, and the stock (already undervalued compared to its peers) will benefit as a result. Or, markets are irrational. Take your pick.
• pas 9y ago
  Or probably the end of uncertainty about the investigation is itself a signal. (People who dropped it from their portfolios because they were risky now put it back.)
• jonknee 9y ago
  It's now a known quantity and if there is one thing Wall Street dislikes is surprises.