Well so far Wells Fargo (WFC) has stayed in the game, but this bounce is doomed before it is made.
True 15% up is a nice move, and it could make it to 13.2. The writing is all over the wall, this bank has much further to fall.
If you don’t think that can happen, look at the field, plenty of banks have ridiculous yields. They can’t pay their dividends, preferred or otherwise, the assets are questionable as gold chutes fill the sky.
Investors beware, these waters are dark, and in this stormy market, why swim with sharks?