Jim Cramer Discussed These 29 Stocks Ahead Of Major AI Event

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26. Nucor Corporation (NYSE:NUE)

Number of Hedge Fund Holders In Q3 2024: 32

Nucor Corporation (NYSE:NUE) is a steel company that has been dragged down due to broader industrial troubles and an economic and industrial slowdown. Steel prices touched new lows in the US in 2024, and in several appearances, Cramer hasn’t held back on ascribing a lot of the blame on cheap Chinese steel. Nucor Corporation (NYSE:NUE)’s shares are sensitive quite a bit to the Fed’s rate cut cycle. As a result, they’re 16% over the past month after the Fed signaled in December that it would cut rates twice instead of an earlier four times. Cramer’s latest comments for Nucor Corporation (NYSE:NUE) also mentioned China:

“. . . . .I believe is because of Mexican transshipment of Chinese steel. That’s what the Nucor people would tell you is keeping things down. Nucor guiding down again, a fine company that really I think it is spot on when it says that it’s Chinese steel depressing the market.”

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