Goldman Sachs (GS.US) stock price plummeted 22% and fell into a bear market, and financial reports became the key to breaking the game

According to Woofun AI, the stock price of Goldman Sachs (GS.US), which is listed on the New York Stock Exchange, has officially fallen into a bear market, accompanied by the rapid evaporation of the multi-billion dollar market value. The market focus is shifting from macro sentiment to micro fundamentals in an attempt to find a signal to stop the decline in upcoming earnings reports.

The fragmentation of business fundamentals has exacerbated market divisions. The closing price on Friday was $895, down more than 22% from this year's high. The underlying reason is the decline in the M&A boom. Total global M&A activity in the third quarter was $993 billion, down 41% from the second quarter.

Although Montepasky Bank's $32 billion acquisition plan for BPM Bank and Goldfield (GFI.US)'s proposed acquisition of Northern Star Resources are still iconic, and Goldman Sachs (GS.US), as the most active M&A advisor this year, participated in the total value of over $1.5 trillion in mergers and acquisitions ($1.152 trillion last year), overall momentum has weakened. The initial public offering (IPO) market is also under pressure. Although Goldman Sachs received $100 million in underwriting fees and hundreds of millions of dollars in incentive fees in the March SpaceX (SPCX.US) initial public offering, and is expected to lead Anthropic's initial public offering, the increase in revenue of US$17.23 billion (previously estimated at US$16.97 billion) depended mainly on the trading business. The conflict between the US and Iran and rapid developments in the field of artificial intelligence increased volatility, leading to a 27% increase in stock trading revenue to US$5.33 billion and an increase of 48% to US$2.84 billion in investment banking expenses. However, the 10% decline in fixed income business offset some of the benefits.

Analysts at Benzinga Statistics expect revenue growth of 12.19% to $17 billion, with earnings per share rising from $12.25 per share in the third quarter of 2025 to $13.65 per share in the last quarter, according to data compiled by Woofun AI.

Uncertainty in the governance structure compounded technical deterioration, further suppressing stock prices. Rumors about John Waldron taking over as CEO after David Solomon's term ended are heating up, and financial director Dennis Colman or global co-head of banking and markets business Ashok Valadan may fill the vacancies. Technically, the gap between the 50-day exponential moving average and the 200-day exponential moving average narrows, which indicates the risk of a dead cross trend, which usually leads to long-term weakness. The stock price has hit the 38.2% Fibonacci retracement level, and the RSI (Relative Strength Index) has entered the oversold range. If support fails, it may fall further to the 50% retracement level of $783.

Under multiple pressures, Goldman Sachs (GS.US) stock prices are facing severe tests. If the upcoming financial report fails to confirm revenue growth expectations, the risk of a further decline in stock prices will increase significantly. Investors need to be wary of long-term weakness overshadowed by short-term fluctuations. Management changes and technical disruptions may be key variables to break the balance.