Cramer Urges Trimming Goldman Sachs and Wells Fargo as Goldman Jumps 4% to Record
Updated
Updated · CNBC · Jun 4
Cramer Urges Trimming Goldman Sachs and Wells Fargo as Goldman Jumps 4% to Record
3 articles · Updated · CNBC · Jun 4
Summary
Goldman Sachs rose more than 4% to an all-time high, prompting Jim Cramer to say the position has become large enough to trim and lock in gains.
Wells Fargo also moved higher Thursday, but Cramer said he would consider trimming that longtime holding too because it has lagged the sector and failed to capture many of the opportunities lifting other banks.
The calls came as investors rotated out of AI hardware names and into financials, healthcare and other lagging sectors; Cramer said the tech weakness looks like rotation, not a break in fundamentals.
CrowdStrike fell about 7% after a beat-and-raise quarter, but Cramer argued new AI-driven cybersecurity deals should boost coming results and said the pullback could be a buying opportunity.
Healthcare led the session's gains, with Eli Lilly up roughly 5.5% and Johnson & Johnson about 2%, underscoring the broader shift away from this year's biggest AI winners.