Jim Cramer on Rigetti Computing: “It’s Losing Gobs of Money”

Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the stocks Jim Cramer put under the spotlight recently. Cramer discussed the stock’s performance during the episode and said:

“Then there’s Rigetti Computing, a quantum computing company. Rigetti’s up 136% for the year. The company has declining revenues for the last few years. It’s losing gobs of money. Board member just sold $2.8 million worth of stock. Good for her or him. I don’t know. I don’t see how you can own a quantum computing play that’s losing tens of millions of dollars with the results far off in the future when there’s heavy insider selling.”

Rigetti Computing, Inc. (NASDAQ:RGTI) develops and provides cloud-based quantum computing systems and superconducting processors through its Quantum Computing as a Service platform. During the October 21 episode, a caller inquired about the stock, and Cramer replied:

“You mean the one that just had a giant seller, a giant insider selling, a director. No, I don’t want to be there. Giant insider selling does not work for me.”

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