Add as a preferred source on GoogleJim Cramer's Trust Plans to Buy 10 Goldman Sachs Shares
At about $867 per share, the planned trade would lift the Trust’s holding to 160 shares and the stock’s portfolio weight to 3.6% from 3.4%.
Jim Cramer's Charitable Trust plans to buy 10 Goldman Sachs shares at about $867 apiece after the stock fell roughly 7% Thursday, Nov. 5, amid concerns over AI-related financing.
The purchase would bring the Trust’s Goldman holding to 160 shares and lift the stock’s portfolio weighting to 3.6% from 3.4%. At the time of the alert, cash made up a mid-teens share of the portfolio.
The decline reflected concern that resistance to data center projects could curb AI-related initial public offerings and fundraising for the buildout. The Trust’s view is that Goldman’s slide since summer already reflects a slowdown in AI financing but overlooks the bank’s equities and FICC trading businesses, which it sees as benefiting from market volatility.
The Trust also pointed to Goldman’s 2.3% dividend yield and multibillion-dollar share repurchases each quarter as sources of shareholder returns.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.