Jim Cramer on SEALSQ: “No, Thank You”

SEALSQ Corp (NASDAQ:LAES) is one of the stocks on Jim Cramer’s radar. While discussing the stock, Cramer said that the “year of magical investing” has ended, as he commented:

“SEALSQ was spun out of a Swiss cybersecurity company named WISeKey about two and a half years ago, and it built itself as a quantum computing-oriented cybersecurity play. Basically, they’ve worked on technology that can protect you many years in the future when hackers have access to incredibly powerful quantum computing. Now, while there was a lot of interest in the stock at the time of the spinoff in May of 2023, that quickly fizzled, stock falling almost 99% from its high in 2023 to its penny stock low in August of last year.

12 months ago, SEALSQ had a market capitalization of just over $10 million. Hey, but over the past year, the stock’s caught fire along with the rest of the quantum cohort, even though it’s totally unprofitable, and it’s only on track to bring in $18 million in revenue this year. But now, it’s got a market cap of $733 million. In other words, this was a year of magical investing stock, and as I’ve said before, the year of magical investing is over. No, thank you.”

SEALSQ Corp (NASDAQ:LAES) develops chips and digital identity technologies that support authentication, data protection, and trusted communication for connected devices.

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