We recently published a list of 10 Stock Predictions That Jim Cramer Got Right Again. In this article, we are going to take a look at where Blackstone Inc. (NYSE:BX) stands against other stocks that Jim Cramer discusses.
In that older segment, a caller voiced concern over Blackstone Inc. (NYSE:BX) after a few months of underwhelming stock performance. Cramer acknowledged the market weakness in the private equity sector at the time, but still believed Blackstone remained a high-quality long-term hold. He said:
“The stock does not act well… That said, I know that there’s value there and I think you have to be willing to recognize that this stock could be down 10%, but the value continues. Jonathan Gray is doing a great job. They own a huge number of companies… they own a data center business that is just second to none frankly. So I say hold on to it but be prepared… we’re in a rocky moment for private equity right now.”
Cramer called it a long-term hold, and the stock rewarded him with a +16.61% gain.
Blackstone Inc. (NYSE:BX) is one of the world’s largest alternative investment firms, managing assets across private equity, real estate, credit, and hedge fund strategies.
The firm recently announced the acquisition of a utility company and Cramer had this to say about it in late May:
“We know Blackstone has a lot of data centers. We know TXNM is in the area with a lot of data centers. I still think this is motivated by the need to have cheap power. Although remember, they are not a generator.
“I think it just a great acquisition. I think all the companies that are in the business of low power, low cost power, which is in say Texas, good place, it’s a great business to be in. And John Gray who runs Blackstone, knows that this is just a, that their own data center company might be worth the price of Blackstone.”
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Overall, BX ranks 9th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of BX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock
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Disclosure: None. This article is originally published at Insider Monkey.
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