Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition - Financial Times
Earnings
Jamie Dimon has publicly flagged JPMorgan could deploy up to $20bn on an acquisition 'in the next couple years,' while also guiding to $1bn in higher expenses and projecting IB fees up 10%+ in Q2. The M&A signal creates a binary setup: deal premium excitement vs. capital-deployment overhang, with insiders net selling and the stock already down 2.4% today on the expense guidance.
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↓ SHORT-3% target+2% stop1-3 weeks, tactical
Fade JPM near-term — expense creep, insider net selling, and M&A uncertainty offset any IB fee tailwind; look for a retest of the $290 area before re-engaging long.