When Jim Cramer talks, people listen. About three weeks ago, the financial guru started talking about Broadwind Energy as the ETF (exchange-traded fund) of the wind energy sector. Cramer said that the company's recent acquisitions round it out nicely and give it "weather vane" status. Since then, the price and trade volume of the stock have jumped sharply.
Broadwind Energy (OTC:BWEN), formerly incorporated as TowerTech is positioning itself to become a major player in the wind energy sector as the company can now provide full construction, transportation, installation, and maintenance services of large wind turbines throughout the United States. The bundle of services provided by Broadwind make it virtually a turn-key business - the only part of the process the company is not currently involved in is siting the wind farms themselves.
At last week's WINDPOWER 2008 conference, Broadwind Energy and it's subsidiaries had a much larger presence than I would have ever guessed - quite substantial actually. And after mentioning to one company official about the meteoric rise in the attention the company was getting, he nodded and said quietly, "Thanks, Jim Cramer."
Watch the video below to see why Cramer is so bullish on BWEN.
[Disclosure: The author currently holds a position in BWEN]