Jim Cramer says he's steering clear of one popular stock

Quantum computing is 1 of the astir talked-about emerging exertion themes connected Wall Street close now. The Trump medication revealed plans to put much than $2 cardinal into the assemblage connected May 21.

Stocks crossed the abstraction surged. Investors poured in, massively.

But Jim Cramer confirmed that he's not 1 of them.

On the Wednesday, July 22, "Mad Money" Lightning Round, a caller asked astir IonQ (IONQ). Cramer's reply was little and direct, conscionable similar each different time successful the Lightning Round.

When rates spell up, these stocks are precise pugnacious to own, truthful I americium going to steer wide of it due to the fact that I spot what the rates are doing, and they're not going successful the close direction.

As of this reporting, IONQ is trading astatine $33.03, down 3.11% connected the session, and is down 24.07% twelvemonth to day against the S&P 500's 8.22% gain, according to Yahoo Finance. 

The banal peaked to a $72 precocious successful precocious May earlier giving backmost much than fractional its worth successful conscionable nether 2 months.

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Why Cramer's complaint statement is the close 1 for a banal similar IonQ

Cramer's objection is not astir IonQ's exertion oregon adjacent its commercialized traction. It is astir the macro situation that surrounds immoderate high-growth, deep-loss institution with a agelong runway to profitability.

The complaint sensitivity statement is circumstantial and well-established successful marketplace history. Companies similar IonQ, which are burning important currency contiguous successful speech for aboriginal currency flows that stay years away, are valued utilizing long-duration discount models. 

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When involvement rates rise, those aboriginal currency flows get discounted much aggressively, compressing valuations. When rates fall, the reverse happens. The playbook is familiar.

Cramer's work of the existent complaint situation is cautious. The banal carries an expected full-year 2026 Adjusted EBITDA nonaccomplishment of $310 cardinal to $330 cardinal connected $260 to $270 cardinal successful revenue, according to its archetypal 4th 2026 fiscal results.

It means the profitability spread is wide capable that complaint sensitivity is simply a morganatic first-order concern, not a secondary one.

What IonQ's Q1 2026 results really showed

But there's thing genuinely absorbing present due to the fact that the cardinal momentum wrong IonQ is real, adjacent if Cramer is choosing to sidestep the banal connected macro grounds.

• Q1 2026 gross was $64.7 million, up 755% twelvemonth implicit twelvemonth and 30% supra the midpoint of guidance.

• Remaining show obligations grew 554% twelvemonth implicit twelvemonth to $470 million.

• The institution raised its full-year gross guidance to $260 cardinal to $270 million, implying integrated maturation of much than 100% twelvemonth implicit year.
  Source: IonQ First Quarter 2026 Financial Results