JPMorgan Chase's Stock Could Soon Pass a Major Threshold
Shares of JPMorgan Chase (NYSE: JPM) have climbed considerably over the past year and are now closing in on $100. When it eventually crosses that threshold, it will be the first time in the bank's history that its shares trade in triple-digit territory.
Just since this time last year, JPMorgan Chase's stock is up more than 43%. Most of the climb happened in the immediate wake of the presidential election, when bank stocks rose across the board, on hopes that then-President-elect Donald Trump would be able to deliver on his campaign promises of lowering taxes and easing the regulatory burden in the financial services industry.
By March of this year, shares of JPMorgan Chase temporarily peaked at around $93, only to then lose $10 per share over the next three months. Ever since June, however, the bank's shares have been on an upward climb.
Source: Fool.com
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