President Obama announced $8.3 billion in loan guarantees, on Tuesday, to build two nuclear reactors. It’s been almost three decades, Cramer said, since one has been built in the United States. He thinks a nuclear company that is currently underrated and whose stock could double is NRG Energy.
NRG wants to be part of the nuclear future, Cramer said. In 2006, the company acquired a nuclear plant in Texas, and, according to the CEO David Crane, this plant has been a phenomenal performer and one of the best in the country.
Also, NRG is looking to expand the site because it originally was designed for four units, but presently only has two. Crane said his team is awaiting approval for a federal loan guarantee to take advantage of that other unit space.
But that’s just part of the NRG story. Watch Cramer’s interview with Crane for more.
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