J.P. Morgan stocks reach a record level, and the bank’s value nears half a trillion dollars.

Bloomberg mentioned that JPMorgan’s stock increased by 1.2% to $172.08 in recent trades, surpassing the previous record in October 2021.

This led to the market value of the largest American bank exceeding $500 billion.

The bank, based in New York, achieved the best performance in the public sector last year, with attractive financial results that led its CEO, Jamie Dimon, to warn about the consequences of excessive profits in certain areas.

JP Morgan climbed by 27% from its lowest level in 2022, easily surpassing all its major banking competitors, such as “KBW” which declined by approximately 5%.
In this regard, it must be noted that the performance of the banking sector and the broader market has relatively declined in 2023 due to recession fears, as well as the Federal Reserve raising interest rates to high levels in its battle against inflation, not to mention the epic collapse of regional banks early in the year.

Investors flocked unprecedentedly to the largest American bank to avoid the banking exposure they experienced, while analysts unanimously expressed an optimistic view of “J.P. Morgan”.