Quantum Computing ( (QUBT) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Quantum Computing Inc.’s stock took a significant hit due to Nvidia’s CEO Jensen Huang’s remarks that quantum computers might not be practical for another 15 to 30 years. This negative sentiment overshadowed the company’s efforts to raise $100 million through a private placement to bolster its financial standing and growth in the photonics and quantum computing sectors. Despite receiving new purchase orders from a European university and a Canadian design company, investor confidence waned, leading to a stock price drop of over 40%.
More about Quantum Computing
YTD Price Performance: -6.77%
Average Trading Volume: 40,010,729
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.33B
For further insights into QUBT stock on TipRanks’ Stock Analysis page.
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