This Is What Smart Money Is Betting On Wells Fargo
Someone with a lot of money to spend (and possibly insider knowledge) has taken an unusually bullish stance on Wells Fargo.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Jack Dorsey’s Square, Coinbase Ventures Join $15M Funding Round In African Bitcoin Exchange
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Troubling Tuesday: Second Selloff in Seven Sessions Comes as Tech Gets Hit by Yield Climb
Investors probably look forward to Friday more than usual this week.
That’s because Friday is the start of a new month, ending what’s been a disappointing and ugly September that got uglier Tuesday as rising Treasury yields and a volatile situation in Washington took their collective tolls.
Why Wells Fargo Shares Are Trading Lower Today
Wells Fargo & Company (NYSE: WFC) shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered the price target from $49 to $46.
This Day In Market History: FDIC Seizes Wachovia
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened: On this day in 2008, the Federal Deposit Insurance Corporation seized control of Wachovia.
Where The Market Was: The Dow closed at 11,143.13 and the S&P 500 traded at 1,213.27.
Benzinga’s Top Ratings Upgrades, Downgrades For September 28, 2021
Upgrades
For Bouygues (OTC:BOUYF), Jefferies upgraded the previous rating of Hold to Buy. At the moment, the stock has a 52-week-high of $43.06 and a 52-week-low of $33.96. Bouygues closed at $42.20 at the end of the last trading period.
10 Biggest Price Target Changes For Tuesday
Morgan Stanley lowered Wells Fargo & Company (NYSE: WFC) price target from $49 to $46. Wells Fargo shares fell 1.9% to $46.65 in pre-market trading.
Morgan Stanley Downgrades Wells Fargo to Equal-Weight, Lowers Price Target to $46
Morgan Stanley analyst Betsy Graseck downgrades Wells Fargo (NYSE:WFC) from Overweight to Equal-Weight and lowers the price target from $49 to $46.