In a recent episode of CNBC’s “Mad Money,” host Jim Cramer recommended BlackRock Inc. (NYSE:BLK) as a must-have stock, citing its pivotal role in the nation’s financial landscape.
What Happened: Cramer expressed his strong support for BlackRock, the world’s largest asset manager, during the Lightning Round segment of his show. He emphasized the company’s significance and advised viewers to include it in their investment portfolios, as reported by CNBC on Tuesday.
“It’s going higher. I think BlackRock is the distinguishing event, it is the great financial repository for our nation, and you should own it,” Cramer said.
Why It Matters: In February, BlackRock revealed a strategic pivot towards active management to outpace traditional passive investment strategies. The move comes amid an economic landscape marked by higher interest rates, persistent inflation, and geopolitical risks.
However, BlackRock’s influence in the financial sector remains strong. The company’s CEO, Larry Fink, recently made a bold call to go all-in on equities for maximum returns, reinforcing BlackRock’s position as a key player in the investment world.
Photo by rafapress on Shutterstock
Engineered by Benzinga Neuro, Edited by
Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you.
Learn more.
