Jim Cramer on PG&E: “I Think This One Could be a Bargain”

PG&E Corporation (NYSE:PCG) is one of the stocks Jim Cramer recently covered. Cramer discussed the stock’s performance for the year, as he commented:

“For the most part, this has been a great year for the electric utilities with a few glaring exceptions. Take PG&E, which is based in Central and Northern California. Its stock is down more than 18% for the year, and that’s in part due to misplaced perceptions about wildfires. I think this one could be a bargain.”

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels

PG&E Corporation (NYSE:PCG) provides electricity and natural gas services through generation, transmission, and distribution networks. It uses nuclear, hydro, fossil fuel, and renewable sources. Cramer called the stock “dirt-cheap” during the February 3 episode. He said:

“But the second biggest decliner is very intriguing. It’s PG&E that’s down 22.4% last month. Now that seems to be just guilt by association. Patti Poppe told us that, she’s the CEO. It doesn’t even operate in Southern California. I think it’s worth buying after last month’s weakness. Yes, it’s dirt cheap. Buy it.”

The company’s stock has gained over 8% since the above comment was aired.

While we acknowledge the risk and potential of PCG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PCG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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