We recently compiled a list of the Jim Cramer Says These 10 Stocks Can Do Well Regardless of Who Wins. In this article, we are going to take a look at where GE Vernova Inc. (NYSE:GEV) stands against the other stocks in Jim Cramer’s current watchlist.
Jim Cramer, the host of Mad Money, recently shared his thoughts on stocks that could perform well regardless of who ends up running the White House. On Tuesday, Cramer observed that the day’s market performance gave the impression that every stock could go higher no matter who secures the presidency.
He pointed to significant gains across various sectors, including aerospace, housing, retail, and healthcare. Cramer noted that this broad-based rally resulted in strong performances on Tuesday, with the Dow climbing 427 points, the S&P rising by 1.23%, and the NASDAQ soaring by 1.43%. However, he tempered his optimism by adding that days like Tuesday might prove to be outliers in the coming weeks.
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Cramer took the opportunity to highlight ten stocks he believes will thrive and said:
“I want to highlight ten stocks that I believe will do well under either candidate, a who’s who of acclamation, companies that almost have to do well because of seismic trends and savvy managements. Companies that no White House would get hung up on, either because they’re beneath notice or they’re perceived as good corporate citizens by both sides. Stocks in industries that neither Trump nor Harris have ever targeted in the past.”
He also raised an important question for the viewers: “If you had the results of the election in hand, would you really know what to buy or sell?” According to Cramer, answering that question is far more complicated than it seems. He emphasized his list of stocks that can thrive regardless of the election outcome. These are companies that have no clear political adversaries in Washington, making them relatively safe bets. Cramer acknowledged, however, that many stocks that seem like obvious picks for one candidate or another often have hidden dynamics that don’t get enough attention.
“In the end, this presidential prognostication game is meaningless until we start hearing about cabinet appointments, those will tell us a lot. Then, we can figure out really who the winners and losers are. Right now, though, there are just too many political angles to every single stock story.”
Our Methodology
For this article, we compiled a list of 10 stocks that were discussed by Jim Cramer during the episode of Mad Money on November 5. We listed the stocks in ascending order of their hedge fund sentiment as of the second quarter, which was taken from Insider Monkey’s database of more than 900 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A technician wearing a safety vest standing alongside a commercial-scale energy storage stack.
GE Vernova Inc. (NYSE:GEV)
Number of Hedge Fund Holders: 92
Cramer pointed out GE Vernova Inc.’s (NYSE:GEV) range of offerings and its management’s clear comments about the company’s nuclear capabilities.
“Next up, everyone wants some environmental play that can work with either party, right? Good luck finding one, but the best I can draw is GE Vernova. The stock’s up so much, but in this new regime, whatever that is, you can assume that it’s something to offer for every utility and hyperscaler. I know we’re all falling in love with nuclear power, right? I get that. And one day, it’ll be important again. I mean, maybe in the next decade. Right now though, if we want more electricity, we’re gonna need it from natural gas, wind, and solar. GE Vernova has natural gas turbines…, windmills, and the best possibilities of nuclear. Although the company would tell you, you shouldn’t get your hopes up for nukes anytime soon because it takes too long to build these… I like the fact that they’re upfront about that. That’s terrific.”
GE Vernova (NYSE:GEV), a leading company in the energy sector, focuses on a broad range of products and services related to electricity generation, transmission, orchestration, conversion, and storage. As of September, the company announced that it has secured the capacity to deliver between 70 and 80 heavy-duty gas turbines per year starting in 2026, an increase from the 55 turbines it has been producing in recent years.
In addition to this, the company has seen its equipment backlog increase significantly over the past two years. By the end of 2024, the company expects to more than triple its backlog, which stood at just over $6 billion at the end of 2022. During the latest earnings call, CEO Scott Strazik shared insights into the company’s approach to nuclear energy.
He emphasized the importance of the existing installed base of nuclear plants, noting that in the U.S. alone, GE Vernova’s (NYSE:GEV) equipment is already installed in 65 plants. Strazik pointed out that there is potential for at least 3 gigawatts of incremental nuclear capacity to be added through upgrades to these existing plants.
Overall GEV ranks 3rd on Jim Cramer’s list of stocks that can do well regardless of who wins. While we acknowledge the potential of GEV as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GEV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.