What's Driving Bank Stocks to Skyrocket? Even WFC Is Up Over 45% Since I Sold! (MS WFC C Société Générale)
I've been watching in disbelief as bank stocks have been on a tear lately. en Wells Fargo (WFC) has surged more than 45% since I sold my shares. y alone, Société Générale jumped by 10%. Wh's fueling this meteoric rise?
Loing at the past six months, several major banks have posted impressive gains:
- Wells Fargo : Over e past six months, WFC has seen a significant increase in its stock price, reflecting strong performance and investor confidence.
- Morgan Chase : JPM has so experienced a notable upward trend, with its stock appreciating considerably during the same period.
- Citygroup : Similarly, Citigroup's stock has climbed, showcasing robust growth over the last half-year.
European banks also experiencing a resurgence. By April 2024, STOXX 600 Banks index reached levels not seen since 2015, indicating a robust recovery in the sector.
Is this surge driven by improved earnings, favorable economic conditions, or something else? I'm eager to hear insights from the community on what's propelling bank stocks into orbit.
