Jim Cramer on Rigetti Computing: “It is a Speculation, Please Remember That”

Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the stocks Jim Cramer was focused on. A caller asked about the stock during the lightning round, and here’s what Mad Money’s host had to say in response:

“Okay, here’s my view on quantum computing: it is for real. Is Rigetti my favorite? No, but Rigetti’s one that could have a headline tomorrow. It’s like Oklo… And I said… enough, I can’t take it anymore. I think that this one’s like that. Rigetti could have something that could be a home run. I don’t want to keep you out of it. But it is a speculation, please remember that.”

Rigetti Computing, Inc. (NASDAQ:RGTI) develops quantum computers and superconducting processors and offers cloud-based quantum computing services. The company provides QPUs, quantum systems, software, and professional services for enterprises and government entities. Cramer called it a meme stock during a March episode, as he commented:

“I think it’s a meme stock. It’s a meme stock and, and therefore it’s a battle between the longs and the shorts. I don’t know who wins in the end, but it is a meme stock. It is not, it is not trading on the fundamentals, which are frankly paltry.”

Since the above comment, the company’s stock has gained nearly 65%.

While we acknowledge the risk and potential of RGTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RGTI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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