Jim Cramer examined Goldman Sachs stock in a recent episode. He commented on the bank's performance.
"The banks rebounded because of beautiful pristine blowouts from BlackRock, from Goldman Sachs, my alma mater, and Morgan Stanley," Cramer said. "I told you earlier this week that we needed to see the banks reverse, right, remember, because that's the best leadership group in the world, and then suddenly, it's been really bad ever since JPMorgan reported. Well, guess what? We saw it happen today."
He stated that Goldman Sachs, Morgan Stanley, and BlackRock broke the downturn precipitated by allegedly weak quarters from Morgan, Citigroup, Bank of America, and Wells Fargo. "It takes a lot to get these stocks out of their tailspin, and we got a lot with Goldman Sachs putting up phenomenal numbers across the board, Morgan Stanley continuing to be a juggernaut of corporate finance and asset gathering, and BlackRock taking in just trillions to the point where they now manage an astounding $14 trillion," Cramer added.
The Goldman Sachs Group, Inc. provides financial services, including investment banking, asset and wealth management, and banking solutions.