Remember the "Dimon Bottom?"
On February 11, it was widely announced that JPMorgan CEO Jamie Dimon snapped up 500,000 of his company's beaten-up shares. The stock moved sharply higher on the news. Last week (just five weeks later) JPMorgan said it would boost its stock buyback authorization by $1.88 billion. (Note: On Feb 11, JPM stock is at $53. Today? $60.)
Do we sniff a massive conflict of interest?
We'll let you be the judge. Here is the year-to-date chart of JPM's stock:
