Jim Cramer on Rigetti: "You Sell Half of It"

Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the stocks Jim Cramer mentioned in his latest comments. Cramer discussed whether it is the right time to sell the stock or not. He stated:

“Take Rigetti. That’s the quantum computing company that has come out of nowhere with a stock that traded at just $.149 a year ago. Now, it trades at $28 and change, although it’s traded as high as $58 last month. Too late to sell at this point? Even after today’s nearly 10% beat down, Rigetti’s still up 85% for the year. Meanwhile, the company itself got declining revenues, losing gobs of money. That doesn’t sound like it’s too late to sell to me. You think it’s going to come right back? Okay, how about this? You sell half of it, playing with the rest of the house’s money. That way, if you’re right, you still make out like a bandit. But if you’re wrong, you can only lose when you can afford to… Rigetti and Oklo are just two of the hyper speculative companies that I’m referring and referencing when I am talking about the year of magical investing. That era is drawing to a close. If you own them and they’re up very big, have you made money? Only if you’ve sold some. Otherwise, no.”

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels Rigetti Computing, Inc. (NASDAQ:RGTI) develops quantum computing systems and superconducting processors. It provides cloud-based access through its Quantum Computing as a Service platform. While we acknowledge the potential of RGTI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.