Goldman Sachs To Call It Quits With GM Credit Card Program?
Portfolio Pulse from Benzinga Neuro
Goldman Sachs is reportedly preparing to sell its General Motors credit card program, reflecting a broader reassessment of its consumer lending efforts. The bank has also been in discussions with American Express regarding interest in the Apple card program. This move follows Goldman Sachs's downsizing of its consumer-lending division, including the sale of specialty lender GreenSky and most of the personal loan portfolio.
November 08, 2023 | 5:10 am
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Goldman Sachs's decision to sell its GM credit card program could indicate a shift in strategy, potentially impacting its stock.
The decision to sell the GM credit card program, along with discussions about selling the Apple card program, could indicate a significant shift in Goldman Sachs's strategy. This could lead to uncertainty among investors, potentially negatively impacting the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Goldman Sachs's discussions with American Express about the Apple card program could potentially impact Apple.
While Goldman Sachs is in discussions about the Apple card program, it's unclear what the outcome will be and how it could impact Apple. Therefore, the potential impact on Apple's stock is uncertain at this time.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
American Express's potential involvement in the sale of the GM and Apple card programs could impact the company.
American Express's potential involvement in the sale of the GM and Apple card programs could impact the company. However, it's unclear at this time what the outcome will be and how it could impact American Express's stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEUTRAL IMPACT
The sale of the GM credit card program by Goldman Sachs could impact GM, depending on who takes over the program.
The sale of the GM credit card program could impact GM, depending on who takes over the program. However, the direct impact on GM's stock is uncertain at this time.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80