Jim Cramer’s New Lightning Round: 7 Stocks Highlighted

4. Cleveland-Cliffs Inc. (NYSE:CLF)

Number of Hedge Fund Holders: 42

Cleveland-Cliffs Inc. (NYSE:CLF) is one of the stocks Jim Cramer highlighted in his new lightning round. When a caller asked about the company, Cramer stated:

“We’re thinking on Cleveland-Cliffs that it’s had a nice little run here and that we want to be in Nucor. Why do I say that? Because I love the balance sheet. I love the expansion plan in Nucor, and I think that it’s a little less levered to autos, which is good.”

Cleveland-Cliffs Inc. (NYSE:CLF) produces flat-rolled, stainless, electrical, and specialty steels along with iron ore, hot-briquetted iron, and related components. Cramer mentioned the stock in a July episode and said:

“What do we make of this incredible comeback in Cleveland-Cliffs stock today, the vertically integrated steel maker focused on value-added steel products, particularly for the auto industry. This stock plunged from the low 20s early last year down to five bucks and change this past May when President Trump approved, and you know I’m against this, the Nippon Steel acquisition of U.S. Steel, which Cleveland-Cliffs also wanted to buy.

But shortly after the deal was approved, Cliffs got a gift from the administration. The president doubled the tariff on steel imports from 25% to 50%. In response, the stock jumped 23% in a single session. And it’s never looked back because, well, the president may have saved the industry, and it exploded higher once again today, up more than 12% when Cleveland-Cliffs reported a better-than-expected quarter. There’s a sense that business will only get better as we process the higher steel tariffs.”