Why Wells Fargo Stock Soared in February
Warren Buffett's Berkshire Hathaway sold off some of its stake in Wells Fargo (NYSE: WFC) in February, but that wasn't enough to derail the bank stock for the month.
Shares of Wells Fargo were up 21.1% in February, according to data provided by S&P Global Market Intelligence, as the bank reportedly hit a key milestone in its recovery.
Wells Fargo has been in the regulatory penalty box for a few years now, the result of a series of scandals dating back to the mid-2010s involving the creation of millions of fraudulent saving and checking accounts. The bank is currently prohibited by the Federal Reserve from growing larger than its asset size at the end of 2017.
Source Fool.com
