Jim Cramer Was Right When He Warned Against Quantum Computing Inc. (QUBT)

We recently published Jim Cramer’s 13 Quantum Computing & Nuclear Stock Predictions – See How They Played Out! Quantum Computing Inc. (NASDAQ:QUBT) is one of the stocks Jim Cramer recently discussed.

Quantum Computing Inc. (NASDAQ:QUBT) is a quantum computing hardware company that is developing an entropy quantum computer. It is one of the riskier quantum computing plays since it has yet to generate a profit and is incurring hefty operating expenses. As an illustration, during the calendar year 2024, Quantum Computing Inc. (NASDAQ:QUBT) generated $373,000 in revenue but incurred $26 million in operating expenses. Looking at its finances, it’s no wonder that Cramer believes that quantum computing is a long-term play. Quantum Computing Inc. (NASDAQ:QUBT)’s shares have lost 15.6% since Cramer made these remarks, with a major selloff occurring after NVIDIA CEO Jensen Huang shared that he believed quantum computing couldn’t deliver quick gains:

“I’m also concerned about a company called Quantum Computing, $2.4 billion, with $400,000 in revenues in the last 12 months and again, very big losses.”

Photo by Mika Baumeister on Unsplash

The CNBC TV host maintained his skepticism about Quantum Computing Inc. (NASDAQ:QUBT) in his latest remarks as well:

“It’s not so much as it’s too late. It’s a money-losing company, and if we get rid of the fervor for the moment about quantum, you’ll be buying that $17 stock at $7, and that’s what I worry about the most.”

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.