According to Reuters, “Goldman Sachs Group Inc on Tuesday unveiled a growth plan that could add as much as $5 billion in revenue annually, as the bank seeks to reassure investors after two poor trading quarters in a row.”
Goldman has been under fire for that very reason; with poor performance over the past half year, observers have been waiting to see what the company would do to get back in the green. “The plans represent a marked shift for a firm that historically has given its shareholders little information about how it makes its money.”
This shadowy approach has led to tensions in the past and does little to calm the nerves of stockholders and investors.
“Goldman’s growth strategy is focused on penetrating new markets or client segments outside of the company’s traditional strengths so we are somewhat skeptical of the management’s ability to hit these revenue targets,” KBW analyst Brian Kleinhanzl wrote in a note.
With this new strategy in place, Goldman may finally turn their trading operations around and finally start making money again. Keep an eye out for how the situation unfolds.
You may be interested
Job Hiring is Picking Up as Employers and Consumers Gain ConfidenceLamont J - March 29, 2021
The recent government stimulus for small and medium-sized businesses, personal stimulus checks, and declining Coronavirus cases, are all great news…
Fed Could Maintain 0% Interest Rate Until 2024Adam R - March 26, 2021
The Federal Reserve is holding its target interest rate in a range of 0.00% - 0.25%, even while the economy…