Traders Bet on BlackRock Rebound After Rival Banks Issue Buy Calls

Traders are starting to bet on a recovery for BlackRock following its July earnings beat. This optimism comes even as the share price slides and weeks after two major competitors told their clients to buy the stock. JPMorgan and Morgan Stanley both raised their price targets on July 16, and the market initially ignored the advice for nearly two weeks.

Data shows that overnight positions are leaning toward an upward move. The put call ratio for holdings kept after market close slipped to 0.98, showing that upside bets are starting to win. However, short term day traders remain cautious, keeping more downside protection in play while the share price struggles to find consistent momentum.

Beyond traditional asset management, BlackRock is making big moves in new sectors. The firm joined a major pilot program to tokenize traditional assets with a formal launch expected in October, and it is leading a massive debt sale for a data center project. At the same time, the company manages a massive spot Bitcoin exchange traded fund, linking its fortunes closely to wider digital asset market trends.