Jim Cramer on IonQ: "Huge Loss-Making Quantum Computing Company"

IonQ, Inc. (NYSE:IONQ) is one of the stocks Jim Cramer commented on. Cramer highlighted the company’s “loss-making” during the episode and said:

“I’m going to start naming the names of these impoverished growth companies, the ones that have been bid up furiously and will likely need to do stock offerings because they’re desperate to raise money. That’s what happened in the great internet crash of 2000…

Case in point, IONQ… That’s a huge loss-making quantum computing company with a stock that had bid up aggressively by retail to the point where it rallied 85% for the year as of last night’s close. Then this morning, IONQ just offered 2 billion shares… It was a complex deal, but it knocked the stock down almost 9% today. I think this offering will be the first of many, and they could weigh on all of these stocks.”

IonQ, Inc. (NYSE:IONQ) builds and sells access to quantum computers and develops quantum hardware, security, and detection systems.

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Disclosure: None. This article is originally published at Insider Monkey.