GE Vernova Inc. (GEV) Was "Very Smart" To Get Out Of The Wind Business, Says Jim Cramer

We recently published 13 Stocks Jim Cramer Discussed During His Historic Morning Appearance. GE Vernova Inc. (NYSE:GEV) is one of the stocks Jim Cramer recently discussed.

GE Vernova Inc. (NYSE:GEV) is one of Cramer’s favorite nuclear power stocks. Its shares have gained 78% year-to-date due to the firm’s exposure to the data center industry. Cramer’s previous comments about GE Vernova Inc. (NYSE:GEV) have continually stressed that it is the only firm capable of delivering nuclear power projects. This time, he discussed the firm’s exit from the wind power market:

“Look the offshore, I remember when GE Vernova said, because I was telling Scott Strazik, I said look I got people from, people from Nantucket where there’s a lot of blades washing up. And he’s like oh yeah that’s bad and we’re gonna get out of that business. And that was very smart to get out of that business. The maintenance business for, about 20%, it’s a very fungible number how much GE Vernova’s wind. Wind has a lot of maintenance. And onshore wind is still very, very valuable. It’s profitable.”

Here are Cramer’s previous thoughts about GE Vernova Inc. (NYSE:GEV):

“Finally, unless you’ve been living under a rock, you know that… we got this gigantic bull market in electricity production to keep all these AI data centers running. And that’s why we’re looking at GE Vernova, the power business of the old General Electric, makes huge turbines for power plants… Best performing industrial in the S&P over the past year by a wide margin. This Charitable Trust name has been walloped of late ever since the president came out hard against wind subsidies, as Vernova has a wind division, but it’s chiefly a natural gas play for what you, that’s why you own it… Maybe it’ll bottom as people realize that’s the, let’s say, the salient division. And if you want power, the NFL comparison is obvious. We’re talking about Baltimore Ravens running back, Derrick Henry… I think both are worth the risk.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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