11 Stocks on Jim Cramer’s Radar

2. D-Wave Quantum Inc. (NYSE:QBTS)

Number of Hedge Fund Holders: 13

D-Wave Quantum Inc. (NYSE:QBTS) is one of the stocks on Jim Cramer’s radar. During the episode, Cramer mentioned the company and discussed the quantum computing sector. He commented:

“This market’s going into a speculative frenzy, people racking up huge gains in quantum computing stocks, even as the technology’s still in its infancy, but maybe it’s closer than we think, but I’m not scolding you. I want to take the speculation seriously because maybe it’s not that speculative after all, which brings me to D-Wave Quantum, a stock that’s up nearly 2000% over the past 12 months. I want some of that. Last Thursday, D-Wave reported. Honestly, I’m not quite sure what to make of the numbers. I’d rather just play with an open hand. Company’s touting the fact that bookings were up 92% year over year. That’s terrific. But like I said, quantum computing is still very early; that’s why booking stood at just 1.3 million… At the same time, the company’s losing big money, but you know, it has big money. So maybe, so what? So you can understand why more traditional investors look at this struggle to justify D-Wave’s more than $6 billion market capitalization, but not me, because I’m open-minded. I want to find out what’s going on. If this is the technology whose time has come, then it makes sense.”

D-Wave Quantum Inc. (NYSE:QBTS) develops quantum computing systems, software, and cloud services for solving complex optimization, logistics, and discovery problems.