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.”

Photo by Anton Maksimov juvnsky on Unsplash

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%.

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