Bove: This Bank Is "Dead Money"

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The U.S. government is seeking to break up banking giant JPMorgan Chase, banking analyst Dick Bove suggested on Tuesday, pointing to a number of federal probes into the financial institution.


But Bove's not yet ready to lift his 'buy' recommendation on the stock. He just doesn't think it's going to go anywhere in the near-term, and even called it "dead money."


"I don't think there's any questions about this because the actions of the government will definitely harm this company," Bove said. "If the United States government is intent on breaking up this company and if the United States government is intent on every week leaking something to some paper somewhere, which is negative about this company, it's going to be very difficult for this stock to do well in the short-term."

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