We're selling 100 shares of Wells Fargo at roughly $65 each. Following Friday's trade, Jim Cramer's Charitable Trust will own 2,340 shares of WFC, decreasing its 4.41% weighting to from 4.6%. We're ringing the register on some Wells Fargo shares after a huge run since third-quarter earnings on Oct. 11.
Due to this swift move higher to levels last seen in 2018 before the Fed put a cap on the bank's assets, we think it is prudent to take some profits. We're also downgrading the stock to our 2 rating , preferring to buy again on a pullback. From this sale, we'll realize a fantastic gain of 92% on stock purchased in January 2021.
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