In a recent episode of CNBC’s “Mad Money,” host Jim Cramer advised investors to buy shares of BlackRock Inc. BLK.
What Happened: On the Thursday episode of “Mad Money,” Cramer gave his opinion on several stocks during the show’s “Lightning Round” segment. When a caller inquired about BlackRock, Cramer was unequivocal in his response.
“I think you buy it. Period, end of story. I think that was an amazing quarter. That acquisition Larry Fink was really brilliant and the stock should go much higher,” Cramer said.
BlackRock recently completed the acquisition of MSCI Inc. MSCI, a leading provider of critical decision support tools and services for the global investment community. The acquisition, which was announced in November 2023, was valued at $26 billion.
Why It Matters: Despite the ongoing geopolitical volatility, Cramer’s advice to buy BlackRock comes as a vote of confidence in the company’s future performance. Earlier in the week, BlackRock had issued a warning about the impact of geopolitical volatility on global markets. Despite this, the S&P 500 and Dow Jones Industrial Average had recently reached record highs.
BlackRock’s recent acquisition of MSCI Inc. is seen as a strategic move to enhance its capabilities in the rapidly evolving investment industry. Cramer’s endorsement of BlackRock’s performance and prospects could influence investor sentiment amidst the current market uncertainties.
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