Why Bank of America stock price is hovering near $53 after a $1 billion employee share award
Bank of America shares slipped 0.1% to $52.93 Tuesday after the bank announced $1 billion in stock awards for non-executive staff. The stock swung between $51.99 and $53.47 during volatile trading. Investors watched for developments on a proposed federal cap on credit-card interest rates, which pressured bank stocks sector-wide.