Jim Cramer is considering investing in BlackRock, the largest asset manager globally, and it’s now on our stocks-to-watch list.
BlackRock shares hit a record high after impressive third-quarter earnings. The company reported a record $11.5 trillion in assets, boosted by strong stock market inflows. CEO Larry Fink highlighted that they’ve added $2 trillion over five years, equivalent to the sixth largest asset manager’s total.
This news follows other strong quarterly results from companies like Wells Fargo and upcoming reports from Morgan Stanley. The financial sector is navigating a challenging market with fluctuating interest rates, and there are differing opinions about future rate cuts.
BlackRocks outstanding performance makes it a strong candidate for investment. Despite a recent 12% increase in share value, Cramer believes theres potential for further growth. He has delayed making a move, focusing instead on Wells Fargo and Morgan Stanley.
Members of Cramer’s Investing Club will be alerted before any trades are made, ensuring transparency and timing in investments.
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