Goldman Sachs’s most recent trend suggests a bullish bias. One trading opportunity on Goldman Sachs is a Bull Put Spread using a strike $255.00 short put and a strike $250.00 long put offers a potential 33.33% return on risk over the next 15 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $255.00 by expiration. The full premium credit of $1.25 would be kept by the premium seller. The risk of $3.75 would be incurred if the stock dropped below the $250.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Goldman Sachs is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Goldman Sachs is bullish.
The RSI indicator is at 67.73 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Goldman Sachs
Can Goldman Sachs’ (GS) Stellar Performance Continue in 2021?
Tue, 29 Dec 2020 13:59:01 +0000
Goldman (GS) can be a solid bet now, considering its current price rally and robust fundamentals.
6 Best Stocks in the Dow on Monday: Apple Rises
Mon, 28 Dec 2020 22:03:00 +0000
The best-performing stocks in the Dow Jones on Monday include Apple, Disney, Visa, Coke and Goldman Sachs.
Goldmanâ€™s Sheila Patel, Chairman of $1.8 Trillion Manager, to Retire
Mon, 28 Dec 2020 20:19:27 +0000
(Bloomberg) â€” Sheila Patel, chairman of Goldman Sachs Group Inc.â€™s asset-management unit, is leaving the $1.8 trillion division after almost two decades at the firm.Patel, 51, is among the companyâ€™s most senior women and shepherded some of Goldmanâ€™s highest-profile relationships with investors around the world. She will step down from the partnership and become an advisory director in the new year, Chief Executive Officer David Solomon said in a memo to staff Monday.â€œSheila has contributed to our culture, including by serving as a mentor to many Goldman Sachs professionals around the world,â€ Solomon said in the memo. â€œI look forward to benefiting from her continued counsel.â€Patel rose to Goldmanâ€™s highest ranks in 2006 when she was named partner within three years of joining the firm. Part of the bankâ€™s management committee in Europe, sheâ€™s overseen the fast-growing areas of environmental, social and governance and impact investing.Prior to joining the asset-management unit, she worked in various roles in the equities division, including as co-head of distribution in Asia and head of U.S. derivatives sales.Goldmanâ€™s partnership ranks have been shrinking, with a number of long-time executives departing in recent years. This year, the firm has added the smallest number of partners since 1998, a move that can limit costs, as the elite ranking tends to come with significant perks.The asset-management unit has also been facing tremendous changes. Tim Oâ€™Neill, a key leader at the division since 2008 and partner since 1990 who helped transform the business into a juggernaut, was moved into a senior advisory role in recent months, while Eric Lane and Julian Salisbury were assigned to co-lead asset management as it adds more heft in merchant-banking capabilities. The bank is seeking to boost its presence in private fundraising.Meanwhile, leaders at the business including quantitative investing co-head Gary Chropuvka and Kane Brenan, who oversaw a business that worked with pension funds, have announced their departures since mid-2019.Patel was elevated to the firmâ€™s management committee in 2018 as part of Solomonâ€™s first major personnel moves after being named CEO, boosting the number of women in the firmâ€™s senior-most governing body.(Updates with past departures starting in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.Â©2020 Bloomberg L.P.
Goldman Invests in Echelon in Bet on At-Home Fitness Amid Covid
Mon, 28 Dec 2020 12:00:00 +0000
(Bloomberg) â€” Goldman Sachs Group Inc. is leading a $65 million financing in Echelon Fitness, giving the bank and another investor a controlling stake in a maker of exercise machines as more people work out at home amid the pandemic.The Chattanooga, Tennessee-based company competes with Peloton Interactive Inc., Lululemon Athletica Inc.â€™s Mirror, Tonal, Tempo, Iconâ€™s NordicTrack, Hydrow and other connected fitness companies with products such as a technology-enabled treadmill, exercise rowers and bikes that are more affordable than most rivals.Its entry-level bike, for instance, was on sale for about $500 on Walmartâ€™s website over the weekend, while its top-of-the-line bike retails for about $1,600 on Amazon. Pelotonâ€™s bike, by comparison, was listed at $1,895, marked down from $2,245.Goldman invested in Echelon through GS Growth, part of New York firmâ€™s merchant banking division. Piper Sandler advised Echelon on the financing, which also resulted in additional funding from North Castle Partners, which together with Goldman holds the controlling interest.â€œWe are excited about their omnichannel and multi-product offering that enables a broader reach to retailers and consumers alike,â€ Stephen Kerns, a member of GS Growth, said in an emailed statement.In 2020, Echelonâ€™s revenue soared by more than 500% to exceed $100 million, with its app delivering both live and on-demand classes to more than 100,000 users.North Castle, which invested in Echelon last year before the virus outbreak, participated in the recent financing as the company experienced â€œexplosive growth,â€ said Jon Canarick, managing partner at the Greenwich, Connecticut-based private equity firm.During the pandemic, companies operating in the health and wellness sphere have attracted institutional investors, in part due to expectations of ongoing growth. Calm, Strava, Zwift, Whoop and Hyperice are among closely-held companies that have raised millions of dollars this year from venture capital and private equity firms, among others.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.Â©2020 Bloomberg L.P.
China Online Education Startup Draws Alibaba in $1.6 Billion Funding Round
Mon, 28 Dec 2020 09:58:50 +0000
(Bloomberg) â€” Alibaba Group Holding Ltd. and Tiger Global Management LLC led a $1.6 billion investment in Chinese online education startup Zuoyebang, underscoring how the Covid-19 pandemic has turned distance learning into a red-hot business.Existing backers Softbank Vision Fund, Sequoia Capital China and FountainVest Partners also participated in the funding, Zuoyebang said in a statement. The latest round comes months after Zuoyebang, which also counts Goldman Sachs and GGV Capital among its investors, raised $750 million in June.Investors have poured into the sector this year as more students embraced e-learning, a trend that has been accelerated by school closures amid the pandemic. Chinaâ€™s online learning market is expected to reach 315 billion yuan ($48 billion) in 2020, almost tripled from five years ago, according to global market data tracker Statista.Source: ZuoyebangLoosely translated as â€œhomework assistant,â€ Zuoyebang is a spinoff of Chinaâ€™s search engine titan Baidu Inc. Founded by former Baidu executive Hou Jianbin, the five-year-old startup offers live-steaming classes as well as other remote study services to more than 170 million monthly active users across the country. On any given day, at least 50 million students â€” the equivalent of the entire population of Spain â€” are using its platform, the company has claimed.The fresh funding will help Zuoyebang level the playing field with major rival Yuanfudao. The online tutoring startup backed by Tencent Holdings Ltd. and Hillhouse Capital said in October itâ€™s hit a $15.5 billion valuation after closing two funding rounds worth $2.2 billion.Nationwide, Chinese education startups have attracted at least 47.6 billion yuan in investment in the year till Dec. 18, according to market research firm Zero2IPO Group.(Updates table with Softbankâ€™s November 2018 investment. An earlier version was corrected after the company amended the date of the $60 million funding round.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.Â©2020 Bloomberg L.P.
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