We recently published a list of Jim Cramer Discusses Quantum Computing Stocks Among These 12 Stocks. In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against other stocks that Jim Cramer discusses.
Rigetti Computing, Inc. (NASDAQ:RGTI) is a quantum computing hardware provider that sells quantum computing chips and computers. Year-to-date, the stock has bled 40% as it is yet to recover from the massive selloff in January after NVIDIA CEO Jensen Huang raised doubts about the near-term viability of quantum computing. Since the January bottom, Rigetti Computing, Inc. (NASDAQ:RGTI)’s shares have gained 95% and were helped by a 26% jump in late May after peer D-Wave Quantum’s optimistic first-quarter results. Cramer has previously described the firm as a meme stock and stated that its share price movements are often determined due to tussles between long and short traders. Here are his latest remarks about Rigetti Computing, Inc. (NASDAQ:RGTI):
There are four quantum stocks that we have to follow. Some of my people that I work with were very, I think that they were, probably concerned that I went out and said, look we ought to be looking at Rigetti, we ought to be looking at, you know the ones that people talk about. But they’re gonna fly!”
But you’re seeing, I mean I did a piece last night, that basically said, okay, here we go. . . .Rigetti, quantum computing, go get em. And David, look at that. I’m not saying I am a sage. I am saying that Jensen is giving a green light to a lot of companies that may mean absolutely nothing but they have quantum in their name.
A close up of an engineer typing at a quantum computing station in a modern office space.
In December, after Rigetti Computing, Inc. (NASDAQ:RGTI)’s shares soared following Google’s quantum computing chip announcement, here’s what Cramer said:
“Okay, so that’s quantum computing. They are all the same. I mean, no, of course, the actual companies aren’t the same, but the stocks are. They’re all parabolic. If you come in, you have to understand, at this point, it is pure speculation. It can keep going up, but they’re all trading the same way. Anything that’s quantum computing and mostly it’s related to how it’s going to help healthcare. I am not a believer at this stage. I wish I’d caught them earlier.”
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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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