Wells Fargo & Company (NYSE:CFM) is one of the Stocks Jim Cramer Discussed After Fed Rate Cut. Cramer noted that the company’s stock is “on the rise” along with Capital One, as he commented:
“For years, banks have been valued by their net interest income, that is, how much they earn on the difference between what they pay for your deposits and what they charge you for your loans. Now, you have to change direction and think about which banks will lend the most, because there will be a lot of demand. And that is a much better way to own bank stocks. That’s why I like Wells Fargo now that its asset limit has been lifted, and Capital One because it bought Discover and is about to rival the other big credit cards. Both companies are on the rise. You may have to wait a little, but I have to tell you something: you want to own them now.”
Photo by Erol Ahmed on Unsplash
Wells Fargo & Company (NYSE:WFC) offers financial services, including banking, lending, investing and wealth management solutions.
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Disclosure: None. This article was originally published in Internal jumpsuit.