Jim Cramer Discusses These 10 Stocks & Says “Traders Are Dumb As Wood”

6. Blackstone Inc. (NYSE:BX)

Number of Hedge Fund Holders In Q4 2024: 67

Blackstone Inc. (NYSE:BX) is one of the biggest asset management companies in the world. The firm’s shares are down by 14% year-to-date but have gained 16% over the past year. Blackstone Inc. (NYSE:BX) has benefited from lower rates and growing enthusiasm about deal-making and acquisitions which had tapered off in a high interest rate environment. The firm is a key player in the upcoming IPO of CoreWeave. Cramer commented on the deal and Blackstone Inc. (NYSE:BX)’s role in it:

“But I came back bullish, more on Dell. But Michael Dell is, I’m looking at the CoreWeave deal and people are saying it’s going to be a dud. I think that’s wrong. I think they, as they circle people will realize you’ve got the backing of a Will Danoff at Fidelity, you have the backing of Jensen Huang, and you have the backing of Vertiv. People who think they know, they know how to run a data center. And most people do not know how to run a data center. Including your friends at private equity.”

“[On Blackstone and the CoreWeave deal] They are great partners with CoreWeave. But, CoreWeave’s gotta tell the story. They gotta get out there and tell the story in a very measured way. I’ll tell it for them.”

“I told the CoreWeave people, I don’t envy them. Their deal is so important for the market.”