Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

WFC 83.43

-1.9%

Nov 17 3:59 PM EST

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From: Travis_Bickle	3/5/2009 3:49:41 PM
	2 Recommendations of 1428

Wells Fargo Chairman Buys Stock (WFC) Posted: March 5, 2009 at 2:38 pm money-stack-image12The chairman of the board of directors of Wells Fargo & Co. (NYSE: WFC) has just used today’s weakness to buy stock. Richard Kovacevich spent $805,000 to purchase 100,000 shares of Wells Fargo common stock at an average of $8.05 per share. He owns about 2.365 million shares. Wells Fargo shares are off of the lows, but the stock is still down 14% at $8.28 at a new 52-week low if this closes under $8.81. Its 52-week high is $44.75. As a reminder, this is one of Warren Buffett’s larger positions of stock. Jon C. Ogg 247wallst.com

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