Jim Cramer Reveals Potential US Rare Earth Trump Card & Discusses These 11 Stocks 

5. The Goldman Sachs Group, Inc. (NYSE:GS)

Number of Hedge Fund Holders In Q1 2025: 77

The Goldman Sachs Group, Inc. (NYSE:GS) is one of the largest investment banks in the world. The shares have gained 11.5% year-to-date as investors look to increased capital markets activity. The investment banking industry has been suffocated for quite some time as high rates and sluggish economic activity have raised the stakes for firms to go public or conduct mergers and acquisitions. 2025 has seen a couple of IPOs hit the market, and The Goldman Sachs Group, Inc. (NYSE:GS)’s shares are reflective of the easing market. Cramer commented on these trends:

“I think that it’s project momentum over at Goldman. I think that they’re doing incredibly well. I know David had been tepid about the deal flow and that you also said that IPOs really don’t matter.”

In his earlier remarks about The Goldman Sachs Group, Inc. (NYSE:GS), Cramer discussed the IPO market and the government’s policies:

“If you take a step back for a second and consider the theme in the aggregate, it’s a very easy time to play an uptick in IPOs, just buy the investment bank that’s the best under the sun and that’s Goldman Sachs. Now, of the big banks, they’re the most levered to investment banking, and that includes IPOs and underwriters. We’ve owned Goldman Sachs for the Charitable Trust since late last year, primarily because I thought we’d see an uptick in deal activity this year as the Trump administration replaced the Biden administration.

Now, that got temporarily derailed by the president’s tariffs but now that those have mostly been paused or rolled back, and if they don’t rear their ugly head again, I think the IPO revival is back on schedule, and yes, indeed, I did work at Goldman Sachs in the 80s. Now, Goldman stock’s started this year strong, climbing to a new all-time high in the 670s in mid-February, right around the time the broader market started all over.

But as it became clear that the new Trump administration was going to prioritize tariffs over its more pro business policies, that’s a real negative for both IPOs and M&A, this thing pulled back hard, only falling nearly 35% from peak to trough by the time it bottomed at $440 [on] April 7th. Since then, though, Goldman’s been rallying hard in part because of the IPO market bouncing back and also because there’s been a pickup in mergers and acquisitions….

Of course, the stock got hit today after JPMorgan executives lowered expectations for their investment banking business at an investor day event. But… I’m not worried about that. I think you can buy Goldman on the weakness.”