Jim Cramer on GE Vernova: "The Stock Only Sold Off Because It Had Already Run Up"

GE Vernova Inc. (NYSE:GEV) is one of the stocks that was recently put under the microscope by Jim Cramer. Cramer noted the company reported a “terrific quarter” and said:

“GE Vernova reported a terrific quarter, and the stock only sold off because it had already run up dramatically going into the earnings, because it’s connected to the data center, and people love the data center because you need their electricity for the data center. As we told CNBC investing club members, there was just a lot to like here.

Management gave us a ton of positive commentary about their $5.3 billion purchase of the remaining 50% of Prolec… GE Vernova is buying the entire thing. As CEO Scott Strazik sees it, this acquisition will bulk up the company’s exposure to their fastest-growing segment of their power business, which is electrification… I think we’re going to begin to hear a lot more about what’s known as small modular nuclear reactors in the next two years, and that will make people realize if you want to invest in the concept of nuclear power, well, then go buy the stock of GE Vernova.

Plus, while the company’s repurchased $2.2 billion worth of its own stock so far this year, they say they’ll continue to buy back stock on an opportunistic basis, as they believe in ‘There is incremental value embedded in our stock.’ Well, it doesn’t really get that much more bullish, does it? Here’s the bottom line: When two of the children of General Electric reported this week, the market got them both wrong, but today they came roaring back. I’m betting that GE Aerospace and GE Vernova are ready to run, and that today’s rallies were the ones that mattered.”

GE Vernova Inc. (NYSE:GEV) provides technologies and services for power generation, transmission, and storage, including gas, nuclear, hydro, and wind systems.

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