'You Can Speculate With It': Jim Cramer On This Financial Stock
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended to own D-Wave Quantum Inc. (NYSE:QBTS).
Supporting his view, Cantor Fitzgerald analyst Troy Jensen, on July 2, initiated coverage on D-Wave Quantum with an Overweight rating and announced a price target of $20.
When asked about New Gold Inc. (NYSE:NGD), he said, “It's ok. I mean, why not buy Agnico Eagle (NYSE:AEM)? That's the one I really, really like. They're doing so well.”
On the earnings front, New Gold will release its second quarter operational and financial results before the opening bell on Monday, July 28. Analysts expect the company to report quarterly earnings at 9 cents per share, up from 2 cents per share in the year-ago period. The company projects quarterly revenue of $323.7 million, compared to $218.2 million a year earlier.
“You can speculate with it. As long as you understand that it's speculation and nothing more,” Cramer said when asked about CleanSpark, Inc. (NASDAQ:CLSK).
As per the recent news, CleanSpark, on July 7, released a Bitcoin (CRYPTO: BTC) mining update for June. CleanSpark said it mined 685 Bitcoin last month, down from 694 Bitcoin mined in May. The company held a total of 12,608 Bitcoin as of the end of June after selling 578.51 Bitcoin during the month for total proceeds of approximately $61.24 million.
Price Action:
- New Gold shares fell 2% to settle at $4.43 on Wednesday.
- D-Wave Quantum shares rose 4.7% to close at $16.91.
- CleanSpark shares gained 3.1% to settle at $12.57 on Wednesday.
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Posted-In: CNBC mad money Lightning Round Jim CramerLong Ideas News Markets Media Trading Ideas
