Goldman Sachs's most recent trend suggests a bullish bias. One trading opportunity on Goldman Sachs is a Bull Put Spread using a strike $365.00 short put and a strike $360.00 long put offers a potential 108.33% return on risk over the next 3 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $365.00 by expiration. The full premium credit of $2.60 would be kept by the premium seller. The risk of $2.40 would be incurred if the stock dropped below the $360.00 long put strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Goldman Sachs is bearish and the probability of a decline 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 68.68 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
Should Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF (GSSC) Be on Your Investing Radar?
Mon, 17 May 2021 10:20:10 +0000
Style Box ETF report for GSSC
Gojek to Merge With Tokopedia to Create Indonesia Tech Giant
Mon, 17 May 2021 10:05:26 +0000
(Bloomberg) — Ride-hailing and payments giant Gojek agreed to combine with e-commerce pioneer PT Tokopedia to create the largest internet company in Indonesia, before seeking a stock-market debut at home and in the U.S.The combined entity is set to form a powerhouse in the world’s fourth most-populous nation, encompassing businesses from car-sharing and fintech to online shopping and delivery. The startups said Monday they will form a holding company called GoTo through a deal backed by shareholders including Google and Alibaba Group Holding Ltd., without providing a valuation.Gojek and Tokopedia are betting a larger size will help them better compete against rivals such as Sea Ltd. and Grab Holdings Inc. as so-called super apps gain popularity in Southeast Asia, a region of more than 650 million people. The two companies together were valued at about $18 billion during their merger talks, with Gojek shareholders set to receive 58% of the new entity’s ownership and Tokopedia holders the rest, people familiar with the matter have said.“It’s a union of equals,” Gojek co-Chief Executive Officer Andre Soelistyo, who will head the combined app giant, said during a media conference via Zoom. “We are creating probably the first platform in the world that combines very distinctive platforms — e-commerce, on-demand and financial services — into one larger ecosystem.”GoTo will pursue a listing by the end of 2021, with a goal of having its shares traded in both Jakarta and the U.S., Tokopedia President Patrick Cao told reporters. The company is considering all options, including an initial public offering and a deal with a special purpose acquisition company, he said. The target valuation in the public markets is between $35 billion and $40 billion, Bloomberg News has reported.A listing would give global investors another opportunity to bet on one of the world’s fastest-growing internet economies. Shares of Sea, the only major Southeast Asian internet company traded in the U.S., have more than tripled over the past year, boosted by the growing popularity of its online shopping platform Shopee and mobile gaming service.Gojek and Tokopedia have been in discussions for a possible merger since late December after Gojek’s negotiations with rival Grab collapsed. Grab last month agreed to go public in the U.S. through a combination with Altimeter Growth Corp., the largest-ever merger with a blank-check company.“This will strike a blow at Grab’s lofty aspirations, given GoTo suddenly becomes a larger, more diverse entity,” said Angus Mackintosh, founder of CrossASEAN Research. “Shopee remains a significant competitor in Indonesia in an increasing number of areas, but it now has a bigger competitor in this combined entity.”Tokopedia and Gojek estimate the combined market for on-demand transport and delivery services, e-commerce and fintech in Southeast Asia at $134 billion in 2020.Tokopedia’s Cao will retain the president’s title at the new entity, working side by side with group CEO Soelistyo, 37. William Tanuwijaya, CEO of Tokopedia, will continue to lead the online shopping pioneer he founded in 2009, while Gojek co-CEO Kevin Aluwi will continue to helm ride-hailing and delivery giant Gojek. Soelistyo will also head the payments and financial services unit GoTo Financial.Gojek was started as a call center in 2010 by Nadiem Makarim to arrange courier deliveries in Jakarta. Everything was manual: employees called motorbike drivers one by one until someone accepted an order. Makarim worked at other startups so he could keep the fledgling operation alive.Soelistyo was working at private-equity firm Northstar Group, which became the first institutional investor in the upstart in its early days.With backing from Northstar, Makarim decided in 2014 to develop a mobile app. When that debuted in early 2015, the service was so popular Gojek couldn’t cope with demand. Soelistyo joined Gojek as president that year and has helped to expand it to about 20 consumer services.He was named co-CEO together with Aluwi in October 2019 when Makarim accepted a minister’s post in Indonesia’s government and resigned from Gojek.“We were small local companies that were going up against global giants,” Aluwi said. “We are no longer underdogs. We have an opportunity to become a global, enduring, iconic company, born in Indonesia.”Goldman Sachs Group Inc. is advising Gojek, while Citigroup Inc. is assisting Tokopedia.(Updates with listing plans starting in first paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Goldman Sachs seeks to hire more than 400 employees in China, Hong Kong
Mon, 17 May 2021 09:30:00 +0000
Goldman Sachs is hiring more than 400 employees in mainland China and Hong Kong, the latest foreign bank to seek to further expand its presence in the world's second-biggest economy, according to a person familiar with the matter. The American bank has filled or is in the process of filling 320 positions, including 70 in its investment bank, according to the person, who was not authorised to discuss the matter publicly. It plans to add another 100 staff before the end of 2021, the person said. Goldman declined to comment on its hiring plans on Monday. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The hiring spree was reported earlier on Monday by Bloomberg. Goldman's hiring push comes as foreign lenders are racing to take full control of their mainland China joint ventures and seek new licences to sell directly to mainland consumers as Beijing further opens up parts of its financial sector, including asset management, insurance and securities. In December, Goldman reached an agreement with its Chinese partner Beijing Gao Hua Securities to take 100 per cent control of its mainland joint venture, Goldman Sachs Gao Hua. It is waiting on final approval from regulators to complete the deal. The joint venture was started in 2004, but Goldman has operated in the Chinese capital markets since the 1990s. In December, David Solomon, Goldman's CEO, said taking full control of the joint venture represented a “significant commitment” by the bank to its China business. Goldman Sachs CEO David Solomon during a television interview at the World Economic Forum in 2019. Under Solomon's leadership, the American bank is expanding its presence in mainland China and Hong Kong. Photo: Bloomberg alt=Goldman Sachs CEO David Solomon during a television interview at the World Economic Forum in 2019. Under Solomon's leadership, the American bank is expanding its presence in mainland China and Hong Kong. Photo: Bloomberg “This focuses on growing and strengthening our existing China businesses, expanding our addressable market and investing in talent and technology,” Solomon said in an internal memo at the time. Goldman employed 40,500 people at the end of last year, with 28 per cent of its staff in Asia, according to its annual report. Asia accounted for 14 per cent of Goldman's revenue in 2020, or US$6.2 billion, and 3 per cent of its pre-tax profit, or US$419 million. Hoping to take advantage of rising incomes and future growth in China, financial services companies, from banks to asset managers, are rapidly expanding their boots on the ground and increasing control over their existing partnerships in the mainland, particularly in the Greater Bay Area. HSBC, one of Hong Kong's three currency-issuing lenders, is on track to hire more than 1,000 frontline staff in its wealth management business in Asia this year, as part of a US$6 billion investment in the region. Credit Suisse plans to triple its headcount in China over the next three years, while JPMorgan Chase took a 71 per cent ownership stake in its mainland securities joint venture in November. Morgan Stanley and UBS are other major banks looking to take full ownership of their securities operations in China. Standard Chartered said in March it wants to triple its income from the bay area over the next five years and plans to increase its headcount in the mainland Chinese cities in the zone from 1,400 to 2,500 by 2023. Citigroup said in March it plans to hire up to 1,700 people across its businesses in Hong Kong as it seeks to tap increasing capital flows between the city and mainland China and target rising wealth in the bay area. It also is seeking a licence later this year to open a new wholly owned domestic securities business in China. DBS, Singapore's biggest bank and a rival to HSBC, said in April it planned to buy a 13 per cent stake in Shenzhen Rural Commercial Bank and was opening to increasing its stake in the future. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2021 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2021. South China Morning Post Publishers Ltd. All rights reserved.
The Future of Fintech
Mon, 17 May 2021 01:17:29 +0000
Fintech has attracted billions of dollars in venture capital as entrepreneurs and legacy banks converge to bring personalization and convenience to consumers.
JD Logistics Seeks Up to $3.4 Billion in Hong Kong IPO
Sun, 16 May 2021 23:51:25 +0000
(Bloomberg) — JD Logistics Inc., the delivery arm of e-commerce giant JD.com Inc., is seeking to raise as much as HK$26.4 billion ($3.4 billion) in its Hong Kong initial public offering, seizing on China’s online shopping boom sparked by the coronavirus pandemic.The warehousing and shipping company is selling 609.2 million shares at HK$39.36 to HK$43.36 each, according to a statement published in the South China Morning Post. The company will start taking investor orders from Monday and is set to begin trading on May 28 in Hong Kong. The deal is expected to be priced on May 21, according to the terms of the IPO obtained by Bloomberg News.At $3.4 billion, JD Logistics would be the second-largest IPO in the city this year, after Kuaishou Technology’s $6.2 billion listing in February. Hong Kong has seen two other blockbuster JD.com-related offerings in the past 12 months, including online health-care unit JD Health International Inc.’s $4 billion IPO in December, as well as its own second listing in June, which raised $4.6 billion.JD Logistics’ first-time share sale comes as Hong Kong’s market shrugs off concerns over inflation. The city has hosted $20.5 billion worth of IPOs so far this year, nearly seven times the $3 billion raised in the same period in 2020, data compiled by Bloomberg show.Created in 2007 and set up as a standalone unit under JD.com a decade later, JD Logistics’ networks include both so-called last mile and longer distance lines, as well as cold chain and bulky item networks, according to its prospectus. It operated more than 900 warehouses across China as of the end of 2020.The logistics firm’s revenue climbed 47% in 2020 to 73.4 billion yuan, the prospectus shows. The company reported a net loss of 4.1 billion yuan last year, compared to 2.2 billion yuan in 2019. It plans to use the proceeds from the IPO to upgrade and expand its logistics networks, develop advanced technologies and to expand its customer base.JD Logistics has attracted seven cornerstone investors to its offering, who agreed to subscribe for about $1.53 billion of stock, according to the terms.The cornerstone investors are:SoftBank Vision Fund $600 millionTemasek Holdings Pte about $220 millionBlackstone Group Inc. $150 millionTiger Global $200 millionChina Chengtong Holdings Group Ltd. $160 millionMatthews Asia $100 millionOaktree Capital $100 millionBofA Securities Inc., Goldman Sachs Group Inc. and Haitong International Securities Group Ltd. are joint sponsors for the listing.(Updates with details of cornerstone investors from term sheet.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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