Wells Fargo $WFC shares are now down more than 50% YTD in 2020.

What do you think about the company and/or the stock right now?

1/3
Let's start with the bad news (there's a ton of it):

- Interest rates are near zero
- Ongoing global pandemic
- $WFC is still trying to regain confidence after its 'unauthorized account' scandal
- The Fed's restricting buybacks & limiting dividends

2/3 https://www.washingtonpost.com/business/2020/06/25/fed-stress-test-coronavirus/
The Fed is cracking down on big banks to guard against risk posed to the financial system from...

The pandemic downturn marks the first time the Fed has issued such across-the-board limits on the largest banks since the aftermath of the Great Recession.

https://www.washingtonpost.com/business/2020/06/25/fed-stress-test-coronavirus/
But the stock is also selling at less than 0.7x book right now. That's CHEAP!

@Matt_Cochrane7 also noted the leadership change w/ Scarf, who was great at $V & could re-invigorate $WFC's tech initiatives.

Could it be that all of the bad news is already more than priced in?

3/3
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