Capital One Falls Nearly 3% as Cramer Sees an Opportunity

Capital One (COF) shares fell nearly 3% Wednesday as investors weighed whether Democrats would revive efforts to cap credit card interest rates after their midterm wins, leaving the stock behind a broader advance in financial shares. Jim Cramer said the decline presented an opportunity for people who do not own COF, though he warned against rushing in before the market settled. During Wednesday’s 10:20 a.m. ET Morning Meeting, he dismissed the likelihood of a rate cap becoming law, saying previous attempts had not produced anything material. “I’m not saying go in right now,” Cramer said.

Source: TokenPost