New York- Bank of America Corporation is "back" above $12 a share after flirting with the $11 dollar figure for some of the morning. Shareholders are bidding up Bank of America stock as they have noticed that beleaguered bank Citigroup has a market capitalization of $118 billion which has closed in on Bank of America's $120 billion. This is despite the fact BAC has over $400 billion more assets.
Citigroup has been able to attain a similar market cap as of today as compared to BAC despite the government still having ownership in the bank and that Citigroup currently operates in two segments Citicorp and Citi Holdings due to its problems.
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