Jim Cramer Highlights Blackstone Pin Action

Blackstone Inc. (NYSE:BX) is among the stocks in focus as Jim Cramer highlighted a market yearning for the status quo ante. Cramer mentioned the stock during the episode and remarked:

What else? We saw the stocks of the banks themselves, which have been horrendous, start to rally. There are always worries about bad loans. They were shrugged off today. Very impressive. I like the action, let’s call it the pin action, in the private equity firm, Blackstone. Remember, this is the one where the employees actually bought the private credit exposure from the frightened, scared investors who wanted out, no matter what. The private equity cohort will also benefit from the possibility of more deals that maybe they’ll use it. Please, private equity people, will you sell some… Take a loss. Just get it out of our faces. Alright… that’s a little extreme.

Photo by Adam Nowakowski on Unsplash

Blackstone Inc. (NYSE:BX) manages alternative assets as it specializes in private equity, real estate, hedge fund solutions, and credit strategies.

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