Mega bank stocks come roaring back to life
As CNNMoney reports bank stocks five years ago felt the sting of the financial meltdown, dropping dramatically and shocking investors.
Fast-forward to today, and the mega banks are doing much better on the stock market.
As CNNMoney explains:
JPMorgan Chase (JPM) Goldman Sachs (GS) and Wells Fargo (WFC) have staged impressive comebacks, with shares trading at levels higher than they were before the financial crisis, while Morgan Stanley is nearing breakeven.
And experts are optimistic that the bank stock rally will continue as the economy recovers.
The financial industry has come a long way and is much better off than it was five years ago, said Dave Ellison, who runs the Hennessy Large-cap Financial Fund) and the Hennessy Small-cap Financial Fund.