Why Deutsche Bank Aktiengesellschaft (DB) Soared On Tuesday?

We recently published a list of 10 Stocks That Led Tuesday’s Charge. In this article, we are going to take a look at where Deutsche Bank Aktiengesellschaft (NYSE:DB) stands against other stocks that led Tuesday’s charge.

The stock market finished Tuesday’s trading in the red territory anew, erasing two consecutive days of gains, as investors repositioned their portfolios ahead of the Fed rate decision on Wednesday.

The Nasdaq registered the biggest drop among Wall Street’s main indices, declining 1.71 percent, followed by the S&P 500 with 1.07 percent, and the Dow Jones by 0.62 percent.

Despite the decline, ten companies showed off resilience during the session, finishing with modest gains. In this article, we have named the 10 top performers and detailed the reasons behind their gains.

To come up with the list, we only considered the stocks with a $2-billion market capitalization and $5 million in trading volume.

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Deutsche Bank Aktiengesellschaft (NYSE:DB)

Deutsche Bank saw its share prices increase by 4.09 percent on Tuesday to end at $24.93 apiece following news that it partnered with DWS to develop private credit origination and investment opportunities for DWS clients across the private credit space.

Under the agreement, DB and DWS will have preferred access to certain asset-based finance, direct lending, and other private credit asset opportunities originated by DB.

The cooperation leverages DB’s extensive sourcing and origination capabilities to provide additional private credit investment opportunities to its global client base.

“Investor demand for private credit assets is strong and we have a market-leading financing business with a long track record in private credit origination across all asset classes going back more than two decades,” said Ram Nayak, co-head of investment banking and global head of fixed income and currencies at DB. “With over 1 trillion [euros] of assets under management and a global distribution network, as well as close ties to Deutsche Bank, DWS is the ideal partner to leverage our expertise, delivering our offering to their clients.”

Overall, DB ranks 5th on our list of stocks that led Tuesday’s charge. While we acknowledge the potential of DB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as DB but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.