Jim Cramer Bets BlackRock “CEO Larry Fink Will Tell a Very Positive Story”

BlackRock, Inc. (NYSE:BLK) is one of the stocks that Jim Cramer shared insights on. Cramer called it the “most exciting story,” as he said:

“Yet, you know what the most exciting story might be? I think it might be BlackRock. Yes, the stock that caught fire recently, even after many investors had lost faith in it. That never made sense to me. BlackRock’s the largest asset repository in the world and has a new infrastructure component that I sure wish I could get a piece of, but it’s only for 401Ks. I bet CEO Larry Fink will tell a very positive story, more than justifying the stock’s recent breakout.”

A professional asset manager making an investment decision at their office.

BlackRock, Inc. (NYSE:BLK) is an investment management company that provides a wide range of equity, fixed income, multi-asset, real estate, and alternative investment solutions to institutional and individual clients. The firm also provides risk management and advisory services globally. A couple of months ago, Cramer made the following comments on the firm:

“Yeah, I think so. Look, we own it for the Charitable Trust. Candidly, we’re down on it, and I don’t like that when we’re down on the stock, but we are. The stock has declined far more than I thought it would on what was a decent quarter. I agree with you, and I think it should be bought. That said, I’ve been wrong, but I think it should be bought in the long term. I think it’ll be a great position.”

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