Subscribe: Here's Why Bank Of America's Stock Is Collapsing Again
Added By: Feedage Forager Feedage Grade C rated
achmed  america  bac  bank america  bank  banks  big  billion  blodget  boa  henry  people  sec  street  wall street  wall 
Rate this Feed
Rate this feedRate this feedRate this feedRate this feedRate this feed
Rate this feed 1 starRate this feed 2 starRate this feed 3 starRate this feed 4 starRate this feed 5 star

Comments (0)

Feed Details and Statistics Feed Statistics
Preview: Here's Why Bank Of America's Stock Is Collapsing Again

Here's Why Bank Of America's Stock Is Collapsing Again

Henry Blodget

Published: Wed, 31 Dec 1969 19:00:00 -0500

Last Build Date: Mon, 23 Apr 2018 14:40:42 -0400



Tue, 13 Sep 2011 12:32:46 -0400

Nonsense.. this scare tactic to get readers is just below the belt. You should have your fingers removed for this kind of hype junk


Mon, 05 Sep 2011 09:56:33 -0400

I'm a foreigner living way over in Thailand and bought BOA one year ago as I thought it was a proxy for the US economy and I had great faith in US resilience and ingenuity. Unfortunately I was half right. Why has everything gone bad? Seems it all went pear shaped after the brouhaha in congress over the debt level. Oh well never mind all the mfgering jobs are come to Asia, you guys can be hair dressers, and used car sale men. Free trade , good one.


Sat, 03 Sep 2011 18:37:51 -0400

Henry, Thank you for the straightforward and insightful post. It is refreshing to see such a concise yet overarching synopsis in layman for the general investor in nearly real-time. To play devil's advocate...I can see how posting such analysis could stir emotions with the bank and potentially have detrimental implications for not only a company, but an entire economy--when too many average investors will simply google "BoA stock", then read the first few posts that hit on google (which this was one of), and make a decision based on that "research". It is a sad but scary truth that most people can only afford a few moments a day to make "informed" decisions so I hope you can appreciate the broader impact of your work. However, as sad as it may be, it is not a reflection on your analysis as much as on our society's childish emotional volatility. One should not feel inclined to deny the truth in any case from reaching the public, so keep on truckin'. Cheers, Stan


Mon, 29 Aug 2011 22:19:42 -0400


Mr Get Real

Sun, 28 Aug 2011 13:42:28 -0400

What a ridiculous post. The market will crash because of Hurricane Irene??? That's just goofy. You'll have to do a lot better than that if you want to scare your short positions into a profit. Get a real job, please.


Thu, 25 Aug 2011 22:17:38 -0400

Beware of motivations. Assume that people of questionable pasts might shill innacurate facts on purpose for their own good. I suspect that Bank of America might have gotten the last laugh today by treating folks making the short bets with a considerable loss of their own today.


Thu, 25 Aug 2011 02:03:26 -0400

Hello. If you actually knew the facts ... then you would have know that the vast majority of loans you are referring to were from CountryWide.. Those are were the loans set up prior to B of A being forced to buy the CountryWide. B of A did not want to buy CountryWide but were forced when they tried to back out. The Government forced then to purge CountryWide. Do your research and stop getting your facts from headlines. Also, for those who failed for follow up on the old news. B of A as well as many other banks paid back the TARP money along at 8% interest. This was no free ride at the tax payers expense. The government made a pretty penny. No lets see were the government spent the 8% interest made on the trillions of dollars. Thats what we should be asking.

I want to work at BOA

Wed, 24 Aug 2011 08:40:30 -0400

With all the employees running around to defend the corrupt and failed balance sheet - they must hand out crack at lunchtime or something. No wonder they don't want to lose their jobs - sounds great to me. go and overvalue some houses...

achmed - shit bag

Wed, 24 Aug 2011 08:38:38 -0400

"Pay back your fucking mortgage and the bank wouldn't have thrown you out of the home you couldn't afford, you louse." As a BOA employee maybe YOUR FUCKING COMPANY SHOULD HAVE VALUED IT CORRECTLY AND NOT LENT TOO MUCH ON IT - you stupid fat wanker. ...then you wouldn't be facing bankruptcy now would you?

fuck off achmed

Wed, 24 Aug 2011 08:37:02 -0400

Got a problem accepting reality you fucking retard? I bet you think Lehmans would have been fine if Dick Fuld could have just got another 20 minutes..... Look at the retarded shit go, "BAC is fine, BAC is fine,BAC is fine,BAC is fine,BAC is fine," rinse and repeat a thousand times. NOBODY can criticise Zero Hedge - it's been right all along. Unlike you who is working for a bankrupt (or own shares in a bankrupt) GOING DOWN MUTTHA FUCKER

Excellent idea

Wed, 24 Aug 2011 08:34:15 -0400

This is the best idea I have heard all year.

half circle

Wed, 24 Aug 2011 08:33:30 -0400

...why - is it over yet? - No it's not. It's one thing predicting collapses, but you can never second guess the Gubbermint. You will of course seen the Muni downgrades following the US downgrade - a sign that things are gettin worse, not better. ...but I suspect like most shrills you only see the ratings provided by agencies as 'valid' when they back up your position.

achmed the BOA analyst fearing for his job

Wed, 24 Aug 2011 08:31:05 -0400

Give it a rest man, we all know that ALL THE BANKS ARE INSOLVENT you fucking cretin, so trying to save your job isn't going to work. "BAC's capital position is fine" So we shoudl take your word for it? - Just like the tits who took Cramers word for it when he said "Bear Stearns is safe, buy Bear Stearns...".....right before it collapsed. Now fuck off you retarded banker, if you have to resort to lying on BI to save your job, then you're already fucked. Those of us working inside the industry worked this out sometime ago, we're just passing the time where it's dry and warm.....and starting to take as much stationary as we can sneak out on a nightly basis. Denial is no refuge.


Wed, 24 Aug 2011 04:06:45 -0400

Lol Yea.... blodget. What happened to that one, you fucking moron.


Wed, 24 Aug 2011 04:05:07 -0400

Oh fuck off John Wright (piggybankblog) Pay back your fucking mortgage and the bank wouldn't have thrown you out of the home you couldn't afford, you louse. fucking loser.


Wed, 24 Aug 2011 04:03:09 -0400

Wow another crook responds. That's Tyler durden or whatever he calls himself, right. The crook shown the door because he was found to be trading under suspicious circumstances. Amazing. we have a sewer and Yves Simith, Henry Blodget and Tyler Durden are just passing through. These people are human feces and some of you illiterate fools are persuaded by them? Lol Here's a chore for each of you that think these people are honest mellons. Ask Yves Smith why she was fired for incompetence. Ask Henry Blodget was he was banned from Wall Street. Ask Tyler Durden why he was banned from Wall Street. See if you get a reasonable answer. Bodget, i know you're reading this. Have you ever apologized for stealing from all those clients that trusted what you were saying, you disgusting sack of shit.


Wed, 24 Aug 2011 03:33:09 -0400

Hey, weren't you that guy that pumped up all those internet stocks back in the day and defrauded all those clients who subsequently got banned by the SEC from further equity analysis? Or something like that? It is true that BAC does have some really shitty holdings, but your uninformed speculation is pretty much useless. A 60% write down of all second mortgages? Gimme a break. $20 billion in litigation? Ridiculous. CDS exposure of $17 billion? Has it ever occurred to you that maybe they have actually been selling some of their CDS and locking in some fat gains? Oh that's right, you have no idea if they are de-leveraging or not. Another point would be that BAC could spin-off countrywide as a mortgage holding country in a small IPO, and send many toxic assets with it (many of the same ones it brought in). Then they would just be losing their initial $4billion investment in CWF.


Tue, 23 Aug 2011 22:49:29 -0400

Henry, ma boy. My how you have grown.... ;)

James Thomson

Tue, 23 Aug 2011 20:25:05 -0400

Mr. Blodgett and others, I strongly recommend you read the book Reckless Endangerment by Gretchen Morgenson. The book will provide you with a whole new venue of other people and organizations to blame for the economic mess we are in, including our government watchdogs: Fannie Mae, SEC, the Federal Reserve; Congress and the White House for their great job in deregulating the financial industry; the rating agencies who gave us AAA ratings for the morgage derivatives, mortgage companies that gave mortgages to people who could not afford them, and consumers who signed mortgages they could not afford. I hope you will take them all on Mr. Blodgett. Good luck!

James Thomson

Tue, 23 Aug 2011 20:21:39 -0400

Mr. Blodgett and others, I strongly recommend you read the book Reckless Endangerment by Gretchen Morgenson. The book will provide you with a whole new venue of other people and organizations to blame for the economic mess, including our government watchdogs: Fannie Mae, SEC, the Federal Reserve; Congress and the White House for their great job in deregulating the financial industry; the rating agencies who gave us AAA ratings for the morgage derivatives, mortgage companies that gave mortgages to people who could not afford them, and consumers who signed mortgages they could not afford. I hope you will take them all on Mr. Blodgett. Good luck!

Zombie BOA

Tue, 23 Aug 2011 19:44:01 -0400

Put this zombie bank down. They never should've been bailed out in the first place. At most, everyone should've been fired and BOA should've been broken up in order for them to get assistance. Leaving the same people in charge of this monstrosity was unconsionable. Look at the havoc the no strings attached bailout allowed allowed BOA to wreak. They foreclose on homes that don't even have mortgages, and BS us all about their health every chance they get. This behavior is what we saw before the financial crisis and no one should be surprised. Die zombie bank!


Tue, 23 Aug 2011 18:11:53 -0400

keep reporting what's really going on blodget. less is more, i'd just shut my mouth at this point b of a


Tue, 23 Aug 2011 17:56:57 -0400

Hey you, yeah you, Brian Moynihan -why don't you go back to getting busy hiring a new PR firm, since this one obviously failed you. I can not believe there was a response to all this - and if I hear another bank or analyst come out and tell us "they are well capitalized" I am going to barf! Alas, another failure in what would be called risk management!

John Mack

Tue, 23 Aug 2011 17:11:10 -0400

Why pick on BOA? The assets of all the big banks are not "real." They are all still insolvent, living off taxpayer cash. And why not point out the joke of rechartering the Goldman Sachs gambling house as a commercial bank, the only reason for the change to allow GS to get big cash from the Fed at little or no interest? so they wouldn't go bankrupt as well as insolvent. Wall Street believes in free markets? Bah! Just free money from the government.

Bill, achmed, fake name #3, etc.

Tue, 23 Aug 2011 16:43:45 -0400

Blodget's a liar! Bloget's a thief! There are no American tanks in Baghdad! Remain calm, all is well! Nothing to see here, move along!

full circle

Tue, 23 Aug 2011 15:22:32 -0400

Ummm.... Was Meredith right about her prediction of the municipal bond world crashing? No.

Treasury Auctioneer

Tue, 23 Aug 2011 15:03:09 -0400

"nobody will miss this massive lump of solid waste as it heads down the commode." Depending on you definition of nobody, then sure. Although nobody thinks they're somebody until everybody disagrees.


Tue, 23 Aug 2011 14:57:15 -0400

Is this the same Blodget that destroyed value claiming that tech and telecom stocks were cheap in 1999-2000? Thanks but no thanks.


Tue, 23 Aug 2011 13:59:58 -0400

In Henry's defense, Amazon did finally hit $200.

Gary Anderson

Tue, 23 Aug 2011 13:47:19 -0400

I know you are being sarcastic Beltway Greg.

Gary Anderson

Tue, 23 Aug 2011 13:45:38 -0400

If you kill the American consumer, hopefully they will take banks down with them. Then the US should establish state banks, and lend from community banks. The big banks are only protecting big investors anyway. We may be able to survive this if corporations could put their money into the smaller banks. Or maybe we don't need big corporations that are loaded with debt.


Tue, 23 Aug 2011 13:37:29 -0400

Achmed, Just a thought, IF Henry is right, like Meridith did w/Citi, where roasting/killing the messenger, does not change the problem for the bank. In the end who would be correct? Cramer screamed about Bear Sterns cause at the time he thought Bear was safe. How did that work out?


Tue, 23 Aug 2011 13:06:23 -0400

When I think of Brian Moynihan or Barabra Desoer, I think of the song by John Lennon called Piggies: . So if it walks like a piggy, talks like a piggy, by golly it’s a PIGGY! . WHERE IS MY LOAN MODIFICATION BANK OF DESTROYING AMERICA! . BofA and it’s CEO Brian Moynihan reminds me of that song by John Lennon and George Harrison titled "Piggies" I invite you to listen to this song on youtube and see if it appropriately fits. . . Have you seen the little piggies Crawling in the dirt And for all the little piggies Life is getting worse Always having dirt to play around in. . Have you seen the bigger piggies In their starched white shirts You will find the bigger piggies Stirring up the dirt Always have clean shirts to play around in. . In their ties with all their backing They don't care what goes on around In their eyes there's something lacking What they need's a damn good whacking. . Everywhere there's lots of piggies Living piggy lives You can see them out for dinner With their piggy wives Clutching forks and knives to eat their bacon. . When I filed my lawsuit against Bank of America, I thought of the many others out there in the same situation. It was then that we decided to educate the public on what these piggy banks are doing, as well as unite us all together as one voice. Please help me turn this David vs. Goliath modification process, into a Goliath vs. Goliath. . Please stand with me and Brookstone Law Firm, and send an email to Bank of Abusing America that states that we will no longer tolerate their potentially illegal, fraudulent, irregular and abusive business methods. . So please send your email directly to Bank of America and include the following: . 1. Your name 2. Your complaint concerning your experience with Bank of America. 3. Please end your email “I support John Wright vs. BofA Lawsuit!” 4. Please send a copy of your email to 5. Please send your email to BofA CEO Brian Moynihan: . I HAVE HAD ENOUGH AND I AM FIGHTING BACK! . I have created for all of those who have been abused by Bank of Destroying Americas potentially irregular, fraudulent and simply abusive home loan modification process. . Divided we might have fell America. UNITED WE MUST STAND! . . My name is John Wright AND I AM FIGHTING BACK! . John Wright


Tue, 23 Aug 2011 13:03:40 -0400

Henry will say anything to attract clicks to his website. No credibility. Known liar.


Tue, 23 Aug 2011 12:53:15 -0400

BLODGET....stand by...Hope you have a good attorney and you saved that money you got for screwing mr and mrs client. Boys at BAC are getting ready to come after you for breaking your agreement with the SEC. This should be fun..I knew it was only a matter of time before you fucked up.


Tue, 23 Aug 2011 12:50:52 -0400

Hey Henry U are currently being skewered on TV. Please enlighten us with your thoughts now. This is getting good!

Viola Perry

Tue, 23 Aug 2011 12:10:16 -0400

There are an exhorbitant amount of derivatives out there and no one knows when they come due and who they belong to. There is not enough money on this globe to cover them. Derivatives are bets on clouds, nothing else! Let them eat cake now.


Tue, 23 Aug 2011 12:07:50 -0400

Memo to the next President: Congratulations on your election. Now that you are in office, I'd like to make a simple request. Send a copy of the following letter to the CEOs of the 1,000 largest US companies: I, ________ CEO of _____ corporation, certify that the corporation ( )is, or ( ) is not "too big to fail" Signed________ For the not TBTF companies, pull out the letter when they ask for another bailout For the ones that deem themselves too big, have DOJ help with the breakup strategy that turns the TBTF companies into lots of who-cares-if-they-fail companies. For the ones who don't answer, do the DOJ thing, and allow naked shorting of their stock.


Tue, 23 Aug 2011 11:28:36 -0400

Look, whether we "balance" the "sensationalist" warnings of Zerohedge or other underground, agenda-driven news sources with factual information provided by the Fed, internal & external auditors as well as the board and management, whose compliance is guaranteed by the fact that they could be persecuted in the case of evidence falsification, withholding or even lying, the bottom line remains that there's something fundamentally wrong with BAC, its $400 billion of liquid assets and its $150 billion parked at the Fed, and while I can accept that it could be the result of idle panic-fueled speculation caught by the hedge funds who run for the exits, it is far more likely that they simply lie and they are indeed in trouble, a fact not unfamiliar with previous patterns including failed government economic policies, failed government economic interventions, uncovering of financial institutions in peril, shady assets and of course, lying.

M Lynch

Tue, 23 Aug 2011 11:15:00 -0400

Here's why no one listens to Henry Blodget: HE'S A CROOK.

Here's Johnny

Tue, 23 Aug 2011 10:54:44 -0400

So I guess in cleaning up the ineptitude of BAC management we will get to see if Nancy P, Harry R and Obama who passed the Dodd-Frank too big to fail legislation had any clue whatsoever. How do you make the BAC situation worse, I am guessing that letting the Fed's take over will do just that.


Tue, 23 Aug 2011 10:36:58 -0400

thermodynamics is not hyphenated.

Jeff Matthews Snarky Turd

Tue, 23 Aug 2011 10:21:19 -0400

The ECB was supposed to use extend and pretend in Greece to allow Euro banks time to raise capital .... but did not force them to do so and now the banks and the ECB are f-ed. If Sec. Timmy believes BAC needs $100 billion then he needs to force them to raise it pronto. F their shareholders. No more risks to the economy. "Need capital?" Go get it now. Or will seize your f-ing bank, fire you and raise it ourselves.


Tue, 23 Aug 2011 10:16:48 -0400

Long Walk Home..... Alone..... Again.


Tue, 23 Aug 2011 10:12:21 -0400

Risten everlyone, this is easy probRem to fix We just make new accounting rules. PLobRem solved


Tue, 23 Aug 2011 10:11:21 -0400

"Lets see BLODGET writes this piece and he was FIRED by MERRILL and BANNED by the SEC. Trying to get some payback I see Henry? You are a pathetic POS!" Yep and the SEC ought to investigate these Wall Street hobos and people of ill-repute. It's sad that shame isn't something Bloget feels otherwise he wouldn't dare show his fucking face around the financial markets after what the prick did to investors.


Tue, 23 Aug 2011 10:08:40 -0400

The market is spooked by all sorts of things and Europe appears to be going to the shitter. Hedge funds that have to sell are selling and there are lots of momentum shorts. BAC has at this stage unprovided for around $8 billion that includes AIG which was raised after the previous quarter. BAC's capital position is fine and Smith, Bloget and Zerohedge should have the SEC knocking on their door.


Tue, 23 Aug 2011 10:03:59 -0400

Bac has $400 billion is liquid assets including $150 billion parked at the Fed. You know they have toxic assets because you read failed I-banker Yves Smith who was fired for incompetence, Bloget who was drummed out of the industry for dishonesty and Zero hedge caught doing questionable deals at a fund. Each of my accusations is true. You believe this chamber of horrors over The Fed, internal auditors, external auditors, the board, management and compliance each of whom could go to jail for many many years for lying.


Tue, 23 Aug 2011 10:03:34 -0400

When BAC goes down, either everything will implode (that is the whole point of Too Big to Fail) or we will bail them out again... Hard to see any other options...


Tue, 23 Aug 2011 09:59:34 -0400

Lets see BLODGET writes this piece and he was FIRED by MERRILL and BANNED by the SEC. Trying to get some payback I see Henry? You are a pathetic POS!


Tue, 23 Aug 2011 09:54:14 -0400

Is Bloget, the former snake oil touter short? If not why not and if so has he disclosed? Why are you asking me what my position is and not ask the same questions of Mr. Banned -from-Wall Street.


Tue, 23 Aug 2011 09:51:32 -0400

I call it the backfire of Criminalism


Tue, 23 Aug 2011 09:50:02 -0400

I know. Right? How can anyone believe that a bank could be over-leveraged, undercapitalized and riddled with toxic assets and in dire need of government intervention, while heading into a liquidity oblivion. Next thing they'll tell us is that we are heading to some sort of a financial crisis - and stuff. Now that's just preposterous.


Tue, 23 Aug 2011 09:47:48 -0400

BAC share price seems to agree there's a problem.


Tue, 23 Aug 2011 09:45:55 -0400

@achmed, You should be buying BAC shares with both hands then.


Tue, 23 Aug 2011 09:44:41 -0400

Nope. And i don't own only one bank stock, which is JP Morgan. We're watching Bloget do a reverse of what he was thrown off Wall Street for in the abortion after the Tech boom. At the time Bloget was found to be irresponsibly touting. We now find him peddling un-researched swill in the same fashion but in reverse. The SEC should think about giving bloget and the other two miscreants a little time away in the cooler. This is the sort of shit Bloget was banned from Wall Street for doing but in reverse.


Tue, 23 Aug 2011 09:38:47 -0400

Because they aren't lying. The three zombies, Bloget, Smith and the Zero hedge guy are.


Tue, 23 Aug 2011 09:29:07 -0400

If management is lying about their balance sheet, why hasn't anyone from management gone to jail? Sarbanes Oxley anyone?

Maxwell Genaw

Tue, 23 Aug 2011 09:12:01 -0400

Here comes another Banker bailout!


Tue, 23 Aug 2011 09:02:59 -0400

I still don't understand how Wells Fargo isn't feeling the heat. They have made some questionable decisions with derivative accounting through the years and have Wachovia/Golden West. They should be in much worse shape than BOA


Tue, 23 Aug 2011 08:59:33 -0400

Exactly, Countrywide was just a bomb waiting to kill whoever took it on, Mozilo took everything he could and is now watching from across the bridge.....

Kudlow's Coke Dealer

Tue, 23 Aug 2011 08:53:45 -0400

In years to come people will look at BAC's purchase of Countrywide and marvel that an institution like BAC could have been that stupid. Angelo Mozilo must be laughing his ass off from whatever private island he's hiding on.

BS Buster

Tue, 23 Aug 2011 08:52:14 -0400

"Yves Smith is an asshat." Achmed, you should be on your meds.

daddy big uns

Tue, 23 Aug 2011 08:47:32 -0400

Long Walk Home!


Tue, 23 Aug 2011 08:35:41 -0400

Feel free to put your monmey where your mouth is.


Tue, 23 Aug 2011 08:33:23 -0400

Is that you Mr. Moynihan?


Tue, 23 Aug 2011 08:30:55 -0400

Worst. Management. Ever.


Tue, 23 Aug 2011 08:21:46 -0400

Yves Smith is an asshat. The American blogpshere, from you Henry, to Yves and the Zerohedge guy are basically disaffected former Wall Street people who left under questionable circumstances. We're supposed to believe that Idiot Smith's valuations despite several stress tests by external sources and numerous testing done by both internal and external auditors. But hey, everyone is on the fraud. What a motley bunch of useless clowns you three are.

BOA Customer via 4 mergers

Tue, 23 Aug 2011 08:11:02 -0400

I do agree... They are tricky bastards. I have the knowledge and flexibility to see where they are trying to rape me, so I'm fee free for years. But woe the poor bastard that does not keep an eye on them.


Tue, 23 Aug 2011 07:53:31 -0400

The roof, the roof, the roof is on fire! We don't need no water—Let the motherfucka' burn! Burn, motherfucka', burn! .

Sue Gross

Tue, 23 Aug 2011 07:47:16 -0400

This is the principle of Payback's A Bitch, writ large. Find me a person on Main Street who does not harbor visceral hatred of BofA, and I'll show you someone who's not been in the economy for a decade or so. BofA has systematically been sodomizing their customer base, first on the scale of retail nickel-&-dime, and later with mortgage scams followed by robosigning and other foreclosure scams. Other than the domino effects which will occur, nobody will miss this massive lump of solid waste as it heads down the commode.

Beltway Greg

Tue, 23 Aug 2011 07:27:39 -0400

Makes me so sad for them I almost do not want to refinance my loans. That said, they'll survive.

Feline aids kills cats :(

Tue, 23 Aug 2011 07:19:50 -0400

so you're saying they're insolvent - but we see they're paying a dividend. If all true, looks like a last ditch attempt by key-shareholders to get some payout before a bailout. (somwhere along the lines of: If the house is burning, better grab what you can and run)

black swan

Tue, 23 Aug 2011 07:09:18 -0400

"This is stoking fears that Bank of America will go bust, taken the whole economy down with it." Exactly. Although, Main Street America's economy has already crashed and burned. 75% of US citizens can not come up with $2,000 in a one month period, in the case of emergency. The Wall Street economy, which has managed to stay aloft by using taxpayer bailouts and trillions of dollars created out of thin air by the Federal Reserve, is now on the brink of following the Main Street American economy into the abyss. The country's largest bank, by aggregate deposit amounts, is Bank of America. Bank of America's stock price stood at $6.42 at the close of yesterday's trading. Ford Motors was the only American big three auto company that did not need a taxpayer bailout. Ford Motors' stock price stood at $9.96 at the close of yesterday's trading. All that is needed to topple Wall Street is another 9/11 or another Hurricane Katrina. September 11, 2011 marks the tenth anniversary of the bombing of the World Trade Center's Twin Towers. There is presently a storm, Hurricane Irene, that is in the path of hurtling itself, with possibly greater than category 3 winds, into the Carolina coast. This may not be the best time to have money tied up in the stock market.