The Southern Company (NYSE:SO) is one of the stocks on Jim Cramer’s radar. When a caller expressed that they want to take some profit in the stock, Cramer commented:
“You gotta take some Southern off the table. Why? Because Southern’s a utility stock that has just hasn’t shot up this much since it was Commonwealth & Southern in the ‘30s. My tip of the hat, by the way, to my friend Andrew Ross Sorkin, whose book 1929’s coming out, and that’s when you would find out how big Commonwealth & Southern was at one point.”
Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels
The Southern Company (NYSE:SO) produces and supplies electricity and natural gas and manages energy infrastructure. In addition, the company develops renewable projects, microgrids, and digital network solutions. While discussing his fantasy stock portfolio, Cramer mentioned the stock during the September 5 episode and said:
“Typically, I go with something healthcare here, but that group is down in the dumps right now. So instead I’ve got a kind of a new one, a growth utility, Southern Company. That’s right. Utilities are classic defensive names. Even in a softer economy, everybody has to pay their gas and electric bills. Usually, these are slow and steady stocks with generous dividends but anyone who’s been paying attention over the past couple years knows that things are changing in the sector.
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