Jim Cramer Discussed These 29 Stocks Ahead Of Major AI Event

17. United States Steel Corporation (NYSE:X)

Number of Hedge Fund Holders In Q3 2024: 57

United States Steel Corporation (NYSE:X) is the steel company that has been at the center of controversy lately. Its bid to be acquired by Nippon Steel was dealt a setback in January after the Biden Administration’s veto. Following the decision, United States Steel Corporation (NYSE:X)’s shares fell by 8% as its CEO came out with hard-hitting comments criticizing the President. The firm has also struggled due to low steel prices in the US which have hampered profitability for steel producers amidst a broader interest rate-driven downtrend in industrial stocks. Here’s what Cramer said about United States Steel Corporation (NYSE:X):

“Well, there’s two comments here, one is Nippon Steel, it’s very statesman-like. And the other is US Steel, the CEO of US Steel, David Burritt, quote that says “Biden’s action is shameful and corrupt. It’s political payback to a union boss.” That “Chinese communist party leaders in Beijing are dancing in the streets!” Now I’m not quite familiar whether they even know how to dance, [inaudible] guy I’ve seen dance over there is Elon Musk. But it does seem to be a very uh contentious and ugly fight that won’t seem to end even though it’s a very small company, it’s symbolic of, well frankly, it’s kind of little Macbeth-like, it’s full of sound and fury signifying nothing.”