Jim Cramer on D-Wave: “The Report Was Really a Perfect Example of Why These Stocks are so Tough to Game”

D-Wave Quantum Inc. (NYSE:QBTS) is one of the stocks Jim Cramer offered insights on. Cramer discussed the stock’s price action over time, as he said:

“Over the past few weeks, this once red-hot speculative side of this market, yeah, you know it’s getting crushed. I mean, just look at the quantum computing plays. We had D-Wave Quantum on the show in August. Stock was at $18 and change by mid-October, then it peaked at nearly 47 bucks. But now I think this makes sense to some, it’s back below $30, down almost 40% from that high. That’s where you gotta start thinking about getting in. Last week, D-Wave reported its third-quarter results, and the report was really a perfect example of why these stocks are so tough to game. On the one hand, the numbers were all better than expected. On the other hand, they only had 3.7 million in revenue last quarter because the technology’s still in its infancy. Stock actually rallied almost 4% response. Still finished last week down nearly 20%. Remember last week was… a bad week for these stocks.”

Photo by Artem Podrez on Pexels

D-Wave Quantum Inc. (NYSE:QBTS) develops quantum computing systems, software, and services, including Advantage quantum computers, Ocean developer tools, and Leap cloud and hybrid solver services.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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