I’m Not Recommending Rigetti (RGTI), Says Jim Cramer

We recently published 11 Stocks on Jim Cramer’s Radar. Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the stocks Jim Cramer recently discussed.

Rigetti Computing, Inc. (NASDAQ:RGTI) is a quantum computing hardware company that makes products such as quantum processing units (QPUs). Cramer discussed the firm’s earnings and analyst action for the shares in detail:

I'm Not Recommending Rigetti (RGTI), Says Jim Cramer

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“But you know they are managing to lose money at an incredible clip. And if that’s the goal, you gotta buy the heck out of that. Cause they may be the single biggest one that’s been disappointing so far. And yet the stock is up, I don’t know, where the stock is, we talked about the stock, look at the stock where it came from. And this is one where, I don’t know, no, it doesn’t fit, it doesn’t fit my, what I did, when we were in the year of magical investing, you know what, I’ll take any one of these, Rigi, Rigetoni, Rigi this, Rigi this, not any more. You cant, because they didn’t even do the numbers. They missed the numbers. Rather significantly, and we’re supposed to stick by Rigetti? They lowered, Benchmark lowered the target, 50 to 40. B. Riley, okay,you know it’s not Goldman, 42 down to 35, Neutral, Very big losses here, 1.9 million in revenue versus 2.17. Remember, million, not billion. . .but no, I don’t want to own Rigetti, that’s like, this is, what a great opportunity. You owned Rigetti the whole year. Suddenly you say, you know what, I’m gonna look up what Rigetti is, and after that I’m selling it. . .I’m seeing too many, this book tour’s really opened my eyes. There are a lot of people who are saying, you know, I made a lot of money off of your Rigetti recommendation. I’m like, yeah, no I didn’t recommend Rigetti. Oh yeah, on March 23rd you said Rigetti in the Lightning Round. Well, I’m not recommending Rigetti, okay, I’m not, period.”

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Disclosure: None. This article is originally published at Insider Monkey.