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Why Wells Fargo Stock Gained 15% Last Month

TheMotleyFool

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Why Wells Fargo Stock Gained 15% Last MonthPhoto, wide shot, wide-angle lens, Bank, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/094456a7-d529-4ef2-b536-c031f2afd618.png

Shares of Wells Fargo (NYSE: WFC) moved higher last month after the nation's No. 4 bank by assets posted a strong first-quarter earnings report, and continued to rebound on broader hopes for the economic recovery.

According to data from S&P Global Market Intelligence, the stock finished the month up 15%. As you can see from the chart below, most of the gains came in the middle of the month when Wells Fargo's earnings report came out: