GE Vernova Inc. (GEV) Is A Nuclear Power Stock Jim Cramer Was Right About

We recently published Jim Cramer’s 13 Quantum Computing & Nuclear Stock Predictions – See How They Played Out! GE Vernova Inc. (NYSE:GEV) is one of the stocks Jim Cramer recently discussed.

GE Vernova Inc. (NYSE:GEV) is one of Cramer’s top nuclear stock picks. The firm makes and sells nuclear reactors, and Cramer is optimistic about its ability to deliver the equipment. Since his comments in February, GE Vernova Inc. (NYSE:GEV)’s shares have gained 69%. One notable catalyst came in July after the shares jumped by 13.7%. The jump came after the firm’s $9.1 billion in revenue and $1.86 in profit-per-share beat analyst estimates of $8.8 billion and profit estimates of $1.50. Seems like Cramer’s enthusiasm about GE Vernova Inc. (NYSE:GEV) was warranted:

“We’re going to talk about the stock of GE Vernova. That’s the power division that was spun off from the old General Electric that so many of you like. Right now, we’ve got several huge themes occurring at once. We know that we have a gigantic number of data centers being put up in the country, correct? Now they require tremendous amount of electricity. They’re big drainers. Our most abundant source of power comes from burning of natural gas. We got more natural gas than any other country.

“GE Vernova makes the turbines. Those are huge machines, up to 700,000 pounds, that burn the natural gas, which then generates electricity. Now there’s the theme for you, but that’s not all. Today, the Tennessee Valley Authority, remember them, announced that it’s going to submit a construction permit for a small modular nuclear reactor, again because we need more power for the data centers. Who makes those? GE Vernova. And we know that the Empire offshore wind project off the coast of New York just got re-greenlighted by the Trump administration. According to a 2022 press release, GE Vernova will be responsible for designing and building the high-voltage electrical system connected to this. It’s a huge multi-year project that will be fantastic for, yes, GE Vernova.

Oh, and if you are a country with a trade surplus with the US, the best way to get it down and then you lose the ire of the president, get away or get rid of the wrath, well, it’s always been to buy a Boeing plane, but I don’t think that works as much anymore. You know what you gotta do? You gotta buy a turbine from GE Vernova. It takes a lot to buck the bond voters. But GE Vernova has not one, not two, not three, but four secular trends going for it. That’s what you need. That’s belt, suspenders, and suspenders and then belt again.”

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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