- Quantum Computing is blasting off, up more than 948% over the past month, nearly 2,842% in the past year, and ~1,823.5% YTD as the #1 quant-rated technology stock.
- The company’s rapid trajectory accompanies a broader rally in the quantum computing industry as technological breakthroughs fuel fresh capital into the sector.
- QUBT was first Quant-Rated a Strong Buy on November 14, 2024, when it was trading at $4.40 per share – well before Wall Street deemed it a strong buy.
- While QUBT is the top quant-rated tech stock, investors should consider risks like high valuations and short interest in the quantum computing sector.
- I am Steven Cress, Head of Quantitative Strategies at Seeking Alpha. I manage the quant ratings and factor grades on stocks and ETFs in Seeking Alpha Premium. I also lead Alpha Picks, which selects the two most attractive stocks to buy each month, and also determines when to sell them.
Quantum Computing’s Meteoric Rise
Quantum Computing (NASDAQ:QUBT) stock skyrocketed nearly 53% on Wednesday. The rally followed news earlier in the week that the photonics company won a contract with NASA to utilize Dirac-3, its entropy quantum optimization machine, to support the space agency’s advanced imaging and data processing demands. Wednesday’s boost followed 70% and 51% surges on Monday and Tuesday.
It’s the latest boost in a more than 30-day rally for the Hoboken, New Jersey-based group, which has returned nearly 945% since mid-November. QUBT’s surge followed news of a second order for its thin-film lithium niobate (TFLN) photonic chip foundry by the University of Texas at Austin and news of Amazon Web Services (AMZN) Quantum Embark program, which ignited a rally across the quantum computing industry. The SA Quant Team reiterates its Strong Buy rating on QUBT, which is up more than 2165% since upgrading the stock from a Hold to a Buy rating on November 1– several weeks before Seeking Alpha’s Quant Rating upgraded it to a ‘Strong Buy’ on November 14th.
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