Jim Cramer’s Bold Predictions About These 10 Industrial Stocks

8. Nucor Corporation (NYSE:NUE)

Number of Hedge Fund Holders In Q3 2024: 32

Date of Cramer’s Comments: 8-16-24

Performance Since Then: 19.25%

Nucor Corporation (NYSE:NUE) is a classic industrial stock as the firm makes and sells iron and steel products. Its end markets make it unsurprising that the shares are down by 33% year-to-date. The stock has fallen since the US steel industry has struggled with low prices throughout 2024. Steel prices have remained low on the back of weakened industrial activity. Since Cramer talked about the stock in August, Nucor Corporation (NYSE:NUE)’s shares haven’t seen any love from investors. While they did soar by 16% after the election, the move was sentiment-driven instead of being based on fundamentals. The shares have lost 25% since the December start on the back of economic data suggesting that interest rate cuts might be slow and a fourth-quarter earnings miss. Here’s what Cramer said:

“Oh no don’t sell Nucor. We sometimes want these big steel companies to be something other than what they can be in the end. They are still tied into the earning cycle. they’re still tied into any downturn but when the FED starts cutting rates the first stock people going to reach for, including me, for my travel trust will be Nucor so please do not sell the stock.”