In a world where stocks related to high-flying sectors such as artificial intelligence, quantum computing, cybersecurity, and robotics are generating returns that are scarcely believable, betting on a financial stock for “global domination” seems a bit far-fetched. Yet the popular host of CNBC’s Mad Money, Jim Cramer, is doing exactly that with Capital One Financial (COF).
Cramer’s bullish thesis on the company is based on two key aspects: the recent acquisition of credit card company Discover and the long-serving CEO, Richard Fairbank’s, strategic vision. He stated, “He’s going to go for a worldwide card, and I would not go against Richard Fairbank, hence why it is up $10 [a share] off a quarter that is very confusing, but is clearly going in the right direction.”
