Caroline Cremen from Adviceworx chose Bank Of America as her stock pick of the day.
“My pick is a Bank of America. We saw during the height of the Covid crisis that banking stocks and financials sold off quite dramatically. People were worried, mainly about credit impairments, and you’re not seeing credit impairments being as bad as we thought because of the stimulus cheques that came through. Bank of America is very geared towards consumer banking and it’s very interest-rate sensitive.”