Jim Cramer on GE Vernova: “My Only Real Regret is We Didn’t Buy More”

GE Vernova Inc. (NYSE:GEV) is one of the stocks that Jim Cramer weighed in on. Cramer mentioned that he is a “big believer” in the company stock. He said:

“When you look at this incredible run in GE Vernova… The quarter was so good that this thing’s trading like it caught a takeover bid, up 14.5% today, which is a crazy move for a large capitalization stock. More importantly, GE Vernova’s monster rally makes me look like a genius… because it’s a holding in my Charitable Trust… We bought it back in May, and so far, we got a 45% gain. My only real regret is we didn’t buy more… Still, it’s been an amazing winner. The fact that it can work today after already being up 91% for the year and more than 280% since it began trading independently 15 months ago, that tells you just how stunning these results really were…

Maybe we shouldn’t be surprised that this company reported a fabulous beat and raise quarter this morning, and make no mistake, these were phenomenal numbers… I cannot believe they are everywhere in the electrification chain… So I want you to put it all together, and I can tell you I’m still a big believer in this one, but given how much it has run, including today’s 14.5% gain, it’s hard for me to tell you to buy more at these levels. I’m reluctant to do so for my trust….

Here’s the bottom line: GE Vernova, one of the greatest quarters I’ve seen in a long time. They shot the lights out, and as we told the club, we think the stock’s headed to 700. But I feel like you’re chasing if you buy it here. Be a little patient. You know what, here’s a good example. I bet you’re going to get a buying opportunity like we have with D.R. Horton, up nearly 17% yesterday. Good analog, right? Today it’s down 3.5%. I expect a similar pullback for this one, maybe even more since it’s rallied so much. So when it comes to Vernova, keep your bat on the shoulder right now, and I want you to wait for a better pitch if you don’t already own some.”

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GE Vernova (NYSE:GEV) provides technologies and services for generating, converting, storing, and managing electricity. The company delivers gas, nuclear, hydro, and wind power systems, as well as grid, solar, and electrification software solutions.

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