Jim Cramer Talked About These 9 Nuclear Power and Quantum Computing Stocks

6. Rigetti Computing, Inc. (NASDAQ:RGTI)

Number of Hedge Fund Holders: 7

Cramer discussed Rigetti Computing, Inc. (NASDAQ:RGTI) stock’s parabolic move and highlighted its meager revenue in the past year.

“But then for example, when I look at Rigetti Computing, it’s a $5.6 billion company, professes to be a leader in quantum computers and superconducting equipment, I grow concerned. Rigetti is a multiple-year money loser with just $11.9 million in revenues in the last 12 months.

This stock was at 66 cents four months ago. Now it’s at 20 bucks, up over 30% just today. Its big break occurred at the end of November when it sold 50 million shares at two bucks. The stock was off the races ever since then. Hey, it’s a quantum GameStop, okay?”

Rigetti Computing (NASDAQ:RGTI) is a company focused on designing and constructing quantum computers and superconducting quantum processors. Recently, the field of quantum computing has garnered significant attention, and as a result, stocks of companies in this space, including Rigetti, have experienced substantial growth. Over the past year, the company stock has surged by more than 1,600%.

Despite the surge in its stock price, there is a notable gap between the company’s market capitalization and its actual financial performance. Its revenue for the third quarter was reported at $2.4 million, a decline from $3.1 million in the same period of 2023. Additionally, the company faced operating expenses of $18.6 million in Q3, which appears relatively small for a company at the forefront of such groundbreaking technology.

Additionally, Andrew Left of Citron Research expressed a bearish view, suggesting that buying shares in Rigetti Computing (NASDAQ:RGTI) based on the success of companies like Google in quantum computing is misguided. Left argued that the hype around quantum computing might fade, and investors could be left questioning the company’s ability to truly compete in the space, especially given its recent equity sales at low prices and the likelihood of further dilution.