Published on 12 Nov 2024 on Benzinga
Wells Fargo Stock Is Up 12% This Month: What's Going On? - Wells Fargo...
In the wake of Donald Trump's election victory, Wells Fargo & Co WFC shares have gained 12% to $72.67 in November, buoyed by optimism around pro-business policies anticipated under a Republican-led administration.
Trump's promise to extend and expand the Tax Cuts and Jobs Act, including further corporate tax reductions, has renewed investor confidence in banking stocks like Wells Fargo, which stands to benefit from a friendlier tax environment and reduced regulatory constraints.