“What Should I Do With $800,000 Worth of Wells Fargo Stock?”
Sell WFC to reduce concentration risk; YTD decline of 23% outweighs tax hesitation.
My grandfather gifted me $20,000 of Wells Fargo stock when I was young after his local community bank was acquired by them. I know having that much money in a single stock is a major concentration risk, but I've been very hesitant to diversify because the capital gains tax hit and strong dividend income.