In This Article:
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Jim Cramer is steering investors toward quantum computing stocks while expressing concerns about Super Micro Computer Inc. (NASDAQ:SMCI) amid its auditor changes.
What Happened: The CNBC’s “Mad Money” host announced on X on Tuesday his strategy to reinvest gains from GameStop Corp. (NYSE:GME) into quantum computing stocks, particularly as Rigetti Computing Inc. (NASDAQ:RGTI) saw extraordinary trading volume of 352 million shares against its 280 million outstanding shares. “They are trying so hard to walk it up now,” Cramer said.
Don't Miss:
-
Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — you can become an investor for $0.80 per share today.
-
This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.
Rigetti’s stock surged 47.93% to close at $8.95, rebounding from last week’s sector-wide selloff triggered by cautionary comments from tech leaders. The quantum computing sector, including IonQ Inc. (NYSE:IONQ) and D-Wave Quantum Inc. (NYSE:QBTS), showed strong recovery despite recent skepticism from industry giants.
This recovery comes after Nvidia Corp. CEO Jensen Huang‘s assessment that practical quantum computing applications might be 15-30 years away, with 20 years being the most likely timeline. Meta Platforms CEO Mark Zuckerberg echoed similar sentiments about the technology’s current limitations.
Meanwhile, Cramer took a decisive stance against Super Micro Computer, stating on CNBC, “Sell. It doesn’t matter, I don’t care...Accounting irregularities equal sell.”
See Also: Commercial real estate has historically outperformed the stock market, and this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!
Why It Matters: Cramer’s comments follow SMCI’s recent auditor switch after Ernst & Young‘s unexpected departure in December. The company, known for its partnership with Nvidia, had been facing potential Nasdaq delisting risks due to delayed financial filings before securing a new auditor.