Jim Cramer on Bloom Energy: “This Stuff Works. It Absolutely Works”

Bloom Energy Corporation (NYSE:BE) is one of the stocks highlighted as Jim Cramer responded to questions from Harvard Business School students. An HBS student inquired if the company can grow, and Cramer replied:

“Damn it, you know, the Bloom Energy, I was against Bloom for so long, and I kept thinking that it’s been 20 years, you know, it’s been, they’ve only been public for about 10, but for 20 years, they were trying to make a lot of money, and they couldn’t. And then boom, it clicked, and it’s going higher. This stuff works. It absolutely works. And it’s been, it’s been remarkable. Thank heaven, they stuck with it.”

A person with stock market data on a laptop. Photo by Anna Nekrashevich on Pexels

Bloom Energy Corporation (NYSE:BE) develops and sells solid-oxide fuel cell systems that convert natural gas, biogas, or hydrogen into electricity without combustion. The company also provides electrolyzers for hydrogen production. During the October 29 episode, Cramer discussed the company’s post-earnings rally, as he commented:

“How about Bloom Energy? Now, I’ve been waiting for this dog to do something for years, seven years and nothing. Their solid oxide fuel cells never seem to catch on. Too expensive… They lost hundreds of millions of dollars. But you know what? They never gave up. Sure enough, Bloom’s now the industry standard on on-prem, clean non-combustible energy at the data center, and they can’t make the product fast enough. Last night, they reported a true blowout quarter. Stock shot up 18%. I’ll take those gains. And you know who made the most money? The believers. That’s who… I’m not saying you should bet everything on the next Bloom Energy or that you should own every uranium ETF. I just want you to do what I recommend in How to Make Money in Any Market: speculate wisely because it’s worth trying to participate in these huge gains as long as you limit it to no more than one position.”

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