Pinnacle West Capital Corporation (NYSE:PNW) was among the stocks Jim Cramer covered on Mad Money as he discussed the wave of IPOs being the market’s possible biggest threat. Inquiring about the stock, a caller mentioned they are looking into utilities that they think could “benefit from the data build-out.” In response, Cramer said:
Pinnacle hasn’t really been a beneficiary of the data build-out, but it happens to be a really good company. So I’m not going to tell you to run from Pinnacle. Now, it has just had a gigantic move up from where it was just at the beginning of the year. But that said, you know what, it’s a good company. Buy some here and then buy some a little bit lower.
Photo by Adam Nowakowski on Unsplash
Pinnacle West Capital Corporation (NYSE:PNW) provides retail and wholesale electric services through the generation, transmission, and distribution of power. The company uses various energy sources, including nuclear, solar, and gas, and maintains a network of overhead lines, underground cables, and storage facilities.
While we acknowledge the potential of PNW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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