Kass & Cramer: A Play on Banks

Stock quotes in this article: WB , WFC  

Wells Fargo (WFC Quote) priced its $10 billion equity offering at $27 last night. The stock is trading at $28.36, and because the deal with Wachovia (WB Quote) is a stock transaction, Wachovia's shares had some weakness today as well.

Jim Cramer announced he was buying WB around $5.29 (it's at $5.46 now), as this is his backdoor way to own WFC in the long term.

Doug Kass also had an excellent piece on WFC and why it is a long-term buy.

To see Kass' 6 reasons why to own WFC, please click here.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin




Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,237.30 1,091.86 2,159.95 34.89
Oil *
76.03
DOWN
53.96
DOWN
6.65
DOWN
6.95
UP
0.15
10 Yr
3.49%
SPDR Gold
108.60
-0.52%
-0.61%
-0.32%
+0.43%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services