Wells Fargo, one of the largest banks in the United States, has been under a ton of fire over the last few weeks after news emerged that over 2 million accounts and credit cards were opened without the permission of those whose names were attached to them. Over the last five trading days, the company’s stock has fallen by more than $2, and it is almost $12 off of its high point for the last 52 weeks. They are certainly not the only financial stock to be suffering over the last year, but they are just the latest to receive the limelight of bad publicity.
Despite all of the bad news that Wells Fargo has seen recently, they are still overall more stable than the market as a whole. Their beta sits at 0.90, meaning that they are about ten percent more stable than the major indices that support it.