CNBC’s “Mad Money” host, Jim Cramer, is shifting his focus to quantum computing stocks after expressing concerns about Super Micro Computer Inc. (SMCI). Cramer announced on X that he plans to reinvest gains from GameStop Corp. (GME) into quantum computing stocks, citing Rigetti Computing Inc.’s significant trading volume.
Rigetti’s stock surged 47.93% to close at $8.95, following a sector-wide recovery despite recent skepticism from industry giants. This rebound comes after Nvidia Corp. CEO Jensen Huang stated that practical quantum computing applications might take 15-30 years, with 20 years being the most likely timeline.
Cramer took a decisive stance against Super Micro Computer, warning investors of accounting irregularities and advising them to “Sell.” The company recently switched auditors following Ernst & Young’s departure in December. As a result, GameStop shares fell 10.15% to $27.88, while Super Micro Computer declined 1.77% to close at $30.53.
In contrast, quantum computing stocks like Rigetti are gaining traction. The company’s trading volume of 352 million shares against its 280 million outstanding shares indicates a strong demand for the stock. Cramer’s comments signal that he is bullish on the sector, despite industry skepticism.
Source: https://finance.yahoo.com/news/jim-cramer-eyes-quantum-computing-193014797.html