Stocks were looking to rebound on Friday amid the worst performance for the three major averages since March 10. Before the opening bell, the S&P 500 was off 2.6%, while the Nasdaq was down 2.1%. The Dow was 2.8% lower.
Shares of regional banking companies have been under pressure this week, weighing heavily on the financial sector. In the wake of the Silicon Valley Bank and Signature Bank collapses, concerns that other financial institutions could suffer the same fate seem justified. However, in some instances, the baby may be getting thrown out with the bath water. The recent slide in banking has created a few promising opportunities in the financial sector; one company seems to stand out among the rest. Keep reading to discover the identity of this company and why it might be a wise investment choice.
AssetMark Financial Holdings (AMK)
Leading asset manager AssetMark Financial is off to a rough start in May, down 15% over the past five days. The leader in asset management continues to grow as it looks to become a full-service wealth management platform. Its recent acquisition of Adhesion Wealth, which provides wealth management technology solutions to investment advisors and asset managers, will expand its offerings. The company has been developing rapidly and has forecast annual EPS growth of 32% during the next five years. It has also seen its valuation come down to a P/E of 18, which is a great value for this growth stock.
The stock is up 12% this year. Even if the market does retreat, AssetMark still expects roughly 10% growth in assets on its platform in 2023 and 20% year-over-year revenue growth. And as we emerge from this volatile market toward the next bull market, the company, a leader in the market, should see continued growth since asset managers thrive in bull markets.
[stock_market_widget type=”accordion” template=”extended” color=”#5679FF” assets=”AMK” start_expanded=”true” display_currency_symbol=”true” api=”yf”]
You might also like:
- Short squeeze trading 101 (208%… 202%… 82%… just in the past week)
- A.I. Gamechanger Says “$2.50 Stock Set to Breakout Overnight”
- Mysterious Gold Leverage Just Announced
- Elon’s New A.I. Device is About to Shock the World
- Prepare Now Before This Looming $2 Trillion D.C. Shock
- Buy Elon Musk’s New $1 Play before June 30
- Write this ticker symbol down…
- The Crypto Melt-Up has Begun
- “A.I. is a Tidal Wave” – Here’s What to Buy
- Beware Executive Order 14067