Goldman Sachs stock tends to underperform after reporting quarterly results
Goldman Sachs Group Inc (NYSE:GS) is among the bank names that will announce quarterly results to start the year, slated for release before the open on Tuesday, Jan. 16. Last seen 1.4% lower at $376.66, GS is sluggish to start the year, already down 2.3% in 2024. The equity also just dipped below recent guidance higher at its 20-day moving average, though it maintains a slim 3.4% year-over-year lead.
The bank stock has a lackluster post-earnings track record, finishing five of its last eight next-day sessions lower, including a 6.4% plunge last January. Goldman Sachs stock averaged a move of 2.8% over the past two years, regardless of direction, but this time the options pits are pricing in a slightly larger move of 3.4%.
Ahead of the event, the options pits are firmly bullish. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 1.87 ranks higher than 96% of readings from the past year.