From CNBC · Alexa LoMonaco · · 1m 10s
Cramer backs Capital One after post-election selloff
Jim Cramer sees a buying opportunity in Capital One after Democrats' midterm victory sparked investor concerns about credit card rate caps.
In brief
Jim Cramer sees a buying opportunity in Capital One after Democrats' midterm victory sparked investor concerns about credit card rate caps. Jim Cramer recommends buying Capital One after its three percent Wednesday decline, dismissing Democratic efforts to cap credit card rates as unlikely to succeed. Originally…
Democrats win midterms, stocks rally
Stocks rallied Wednesday following a decisive Democratic victory in the midterms. The election had been a source of uncertainty on Wall Street that has now been removed.
Capital One falls on rate cap fears
Capital One slipped nearly three percent Wednesday despite a broader rally in financial stocks, as investors weighed the possibility that Democrats could renew efforts to cap credit card interest rates.
Cramer dismisses rate cap threat
Jim Cramer dismissed the likelihood that a credit card rate cap proposal would become law, noting that previous attempts have not resulted in anything material.
Buy Capital One on the dip
Cramer said the selloff has created an opportunity in Capital One. He cautioned against rushing in before the market settles but said COF is to be bought if you do not own any.
“I'm not saying go in right now. I am saying that COF is to be bought if you don't own any.”
What to remember
Jim Cramer recommends buying Capital One after its three percent Wednesday decline, dismissing Democratic efforts to cap credit card rates as unlikely to succeed.
