Whitney Pans Goldman Sachs (GS)

Posted in pre-market 
October 13th, 2009

Goldman Sachs Group Inc. (NYSE: GS) is getting hit ahead of earnings as analyst Meredith Whitney has come out and downgraded the stock to Neutral from Buy after shares have run up over 30% since her Buy recommendation.  It is surprising that the volume is not more and that the reaction is not more as well.   We have shares down 1.8% at $186.70 on over 120,000 shares as of 8:52 AM EST.  Shares rose much more than this when she initiated the buy rating.  In a bull market it seems easier to add than to take away.  JON C. OGG

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