Jim Cramer Calls Bloom Energy "One of the Great Success Stories of This Remarkable Era"

Bloom Energy Corporation (NYSE:BE) is one of the stocks Jim Cramer recently discussed. Cramer mentioned that he should have recommended the company stock, but he did not. He said:

“Now I’ve always admired Bloom’s technology, but frankly, I never thought much of its stock because the company’s been a chronic money loser. For years, the stock did nothing, and eventually I stopped paying attention to it. That was wrong. And now we’ve got still one more reason why, Oracle. If you want to build as many data centers as Oracle’s planning to, you need turnkey power because we know that electricity’s the biggest gating factor for these behemoths…

In short, after being a severe disappointment for years, Bloom is now one of the great success stories of this remarkable era… How about the stock? Like so many other small-cap that provide key parts and power to the data center, it’s gone ballistic, not just parabolic but ballistic. It’s up roughly 230% year to date, going from 25 to $72… My conclusion was a simple one: I missed it. Therefore, it’s not my cup of tea. All day, though, I’ve been wondering whether that’s actually true. I mean, Bloom’s a $17 billion company now with promising contracts and a pedigree of fantastic technology…

But after this huge move, I worry about recommending Bloom because I don’t want to hurt you. That said, Bloom could be very real. It just happened so fast that I didn’t grasp it, and now the easy money’s obviously already made… Still, tired as it sounds, I think you have to wait for a pullback for Bloom, like the one nuclear’s experiencing right now. And admit, darn it… I should have recommended Bloom Energy to you. I didn’t. My bad.”

Bloom Energy Corporation (NYSE:BE) designs and installs solid-oxide fuel cell systems that convert natural gas, biogas, hydrogen, or fuel blends into electricity without combustion. Additionally, it provides electrolyzers for hydrogen production and serves sectors including utilities, data centers, healthcare, and manufacturing.

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