Goldman Sachs hits record high as trading and earnings fuel rally
Goldman Sachs hits record high as trading and earnings fuel rally
Goldman Sachs stock climbs to an all-time high near $962, lifting market cap beyond $300B on strong trading and earnings.
Goldman Sachs Group Inc.'s stock rose to an all-time high of $961.86, lifting its market capitalization above $300 billion and marking a dramatic rebound after a 57% rally over the past year.
The surge comes as investors cheer a record in equities-trading revenue in the final quarter, with $4.31 billion generated—the highest on Wall Street and topping analyst estimates by about $700 million.
CEO David Solomon has sharpened the bank's focus on its core strengths in investment banking and trading, while expanding wealth management and private equity to create steadier income streams.
Asset- and wealth-management, led by Marc Nachmann, has become a key growth engine, aided by acquisitions including Innovator Capital and Industry Ventures. Goldman has since raised its medium-term targets for this unit, aiming for a 30% pretax margin and high-teens returns.
The stock's rally underscores renewed investor confidence in Goldman’s earnings trajectory and strategic direction as it navigates volatility and competition.
