IonQ Is Losing 'Too Much Money' While This Tech Stock Is 'Real Deal': Jim Cramer

On CNBC's “Mad Money Lightning Round,” Jim Cramer said IonQ, Inc. IONQ is losing “too much money.”

On Aug. 7, IonQ said its second-quarter revenue increased 106% year-over-year to $11.4 million. The quantum computing company reported a quarterly loss of $37.6 million, or 18 cents per share, and an adjusted EBITDA loss of $23.7 million.

Garmin Ltd. GRMN is going higher, Cramer said. “They have unbelievable fishing equipment. I've got to tell you, Garmin is the real deal.”

On July 31, Garmin reported fiscal second-quarter 2024 revenue growth of 14% year-on-year to $1.51 billion, beating the analyst consensus estimate of $1.41 billion.

Cramer said CommScope Holding Company, Inc. COMM has been on a “real tear” and he doesn't know the reason behind that.

On Sept. 3, Nokia disclosed a collaboration with CommScope's RUCKUS Networks to develop a solution for seamless in-building and campus-wide connectivity.

The “Mad Money” host said MongoDB, Inc. MDB is at the “right price.”

On Aug. 29, MongoDB reported better-than-expected second-quarter financial results and issued strong guidance. MongoDB reported quarterly earnings of 70 cents per share, which beat the analyst consensus estimate of 49 cents by 42.86%. Quarterly sales came in at $478.1 million, which beat the consensus estimate by 3.03% and represents growth of 12.82% from the same period last year.

Price Action:

• CommScope shares rose 1.6% to settle at $5.22 on Thursday.
• IonQ shares rose 2.1% to close at $7.38 during Thursday's session.
• Garmin shares rose slightly to settle at $182.76.
• MongoDB shares fell 0.5% to close at $295.18 on Thursday.

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Image: IonQ