Jim Cramer is steering investors toward quantum computing stocks while expressing concerns about Super Micro Computer Inc. 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. GME into quantum computing stocks, particularly as Rigetti Computing Inc. 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.
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. IONQ and D-Wave Quantum Inc. 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.”
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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.
The market reflected these developments with GameStop shares falling 10.15% to $27.88, while Super Micro Computer declined 1.77% to close at $30.53.
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