Market Overview

Jim Cramer Shares Thoughts On Goldman Sachs, Having Fans At 2021 Super Bowl

Jim Cramer Shares Thoughts On Goldman Sachs, Having Fans At 2021 Super Bowl

On Wednesday morning, Jim Cramer shared his thoughts on several financial stocks that reported and the overall market.

Cramer on Goldman Sachs: Prior to the market open, Goldman Sachs (NYSE: GS) reported earnings per share and revenue that beat estimates.

Cramer was pleased with the results and thinks “they’re taking share” from other financial companies.

“They did it in a way that will be sticky," Cramer said on CNBC.

Cramer believes Goldman Sachs shares would be up more if not hurt by other financial stocks. Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC), which also reported prior to the open, were down 2%.

"That stagecoach needs a little work there," Cramer said, referring to Wells Fargo. 

Cramer worked at Goldman Sachs for several years. While there, Cramer said the strategy was “don’t take any real risks, you just bring in assets,” something he thinks is true today.

See Also: Eli Lilly Halts Antibody COVID-19 Trial

Cramer on Market: Cramer believes a vaccine could help boost the markets further. He referred to being a four-lane highway with three fast lanes and one that is not: “Gotta fix that last lane."

Cramer is looking for a bridge to the vaccine.

The pauses of Johnsons & Johnson (NYSE: JNJ) and Elil Lilly (NYSE: LLY) trials were discussed, but Cramer still believes we will have a vaccine soon.

Cramer believes the key test will be the Super Bowl in February, which he believes will have a live audience: “People don’t believe me.”

Cramer said everyone will get tested before the game and it will show the success of vaccines and treatments and rapid tests.

“That’s what I’m shooting for," said Cramer.


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Posted-In: CNBC Coronavirus Covid-19 Jim CramerEarnings News Sports General Best of Benzinga

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