Jim Cramer Discussed These 29 Stocks Ahead Of Major AI Event

21. Cleveland-Cliffs Inc. (NYSE:CLF)

Number of Hedge Fund Holders In Q3 2024: 40

Cleveland-Cliffs Inc. (NYSE:CLF) is an American steel company that’s been caught smack in the middle of a major controversy in the industry. This controversy has seen the Biden Administration block Japanese Nippon Steel’s acquisition of US Steel, an occurrence that Cleveland-Cliffs Inc. (NYSE:CLF)’s CEO predicted well in advance. However, now that the deal is blocked, some are wondering whether Cleveland-Cliffs Inc. (NYSE:CLF) will buy US Steel instead. Cramer’s remarks surrounding the firm covered the controversy as he shared:

“Well I mean Cleaveland Cliffs has said, uh, over and over again, they’re gonna get it [US STEEL], Cleaveland Cliffs is gonna get it. Now he’s going silent here, I’m speaking of Lourenco Goncalves, he’s just going silent. I’ve been trying over and over to get him on air, because he’s very, I’d say effusive about what’s been going on. But Lourenco Goncalves has told me again and again after they do the Steelco deal he has the room to be able to do this. Meantime his stock has just been clubbed. So I don’t think people necessarily want the stock, but the steel stocks all together have just been horrendous and a lot of that 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.”