Shares of Quantum Computing Inc. rallied more than 60% as the stock shot through the $10 for the first time following positive coverage of the stock by Barron’s.
The move follow weeks of heavy speculation in the quantum computing industry stocks.
Quantum Computing Inc. (QUBT) is an integrated photonics and quantum optics technology company specializing in accessible and affordable quantum machines.
Their products are touted as different as they are designed to operate at room temperature and low power. That feature offers unique capabilities in high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications.
Last week, Quantum Computing took advantage of their sudden price increase to raise capital. The company y placed 10 million shares of stock at a price of $5.00 per share. The move is usual for companies as a move to increase cash for investments.
QUBT shares have become the target of speculation over the last three weeks as headlines surrounding the quantum computing movement have increased dramatically.
Shares of the company ascended from $1 to $5.00 in a matter of two weeks in November followed by a sideways consolidation in the stock.
Trading volume for QUBT stock has been incredibly sporadic, representing the stock’s volatile behavior well. Investors should expect that volatility to lead to a retracing of prices over the next week or two.
From a technical perspective, shares of Quantum Computing are trading in short-term overbought conditions, indicating that a regression to the mean is likely.
Long-term investors may wish to wait for a short-term pullback in the stock’s price to build or open a new position.
