Investors selling Wells Fargo stock after earnings are focusing on the wrong things

Wells Fargo CEO and President Charles Scharf testifies throughout a Wall Street oversight listening to by the Senate Banking, Housing, and Urban Affairs committee on Capitol Hill in Washington, DC, December 6, 2023. 

Saul Loeb | AFP | Getty Images

Wells Fargo reported better-than-expected quarterly outcomes earlier than the opening bell Friday. We had been additionally completely happy to see that as of the finish of 2023, administration has formally delivered on its $10 billion multiyear cost-saving program. However, the stock got here beneath strain on weaker-than-expected steering.

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