We lately revealed a listing of 10 Firms Buck Broader Market Optimism. On this article, we’re going to check out the place Quantum Computing Inc. (NASDAQ:QUBT) stands towards different corporations buck broader market optimism.
Wall Road’s foremost indices completed within the inexperienced territory on Friday amid a collection of catalysts buoying investor urge for food.
The Dow Jones Industrial Common rose by 0.80 p.c, whereas the S&P 500 and Nasdaq Composite rallied by 1.26 p.c and 1.77 p.c, respectively.
Regardless of the broader optimistic sentiment, 10 firms managed to put up declines. Right here is why:
To provide you with Friday’s high losers, we thought-about solely the shares with no less than $2 billion in market capitalization and $5 million in every day buying and selling quantity.
A knowledge analyst pouring over a chart, the intricacies of its strains being revealed.
Shares of Quantum Computing Inc. (NASDAQ:QUBT) declined by 6.69 p.c on Friday, shedding 1.25 factors to shut at $17.50 every as traders bought off positions forward of the 2025 Client Electronics Present.
Buyers seemed to be ready on the sidelines for any updates and potential developments from the know-how consultants within the quantum computing sector, being the spine of know-how and synthetic intelligence.
Analysts, nevertheless, remained bullish on the sector, amid the fast enlargement of the worldwide quantum computing market, at the moment valued at $1.3 billion. The market is projected to develop at a formidable compound annual development charge (CAGR) of 32.7 p.c, doubtlessly reaching $5.3 billion by 2029.
US lawmakers additionally introduced help for quantum computing growth, lately promising $2.7 billion in authorities funding to supercharge quantum innovation throughout computing, sensing, and communications.
Total, QUBT ranks third on our checklist of corporations buck broader market optimism. Whereas we acknowledge the potential of QUBT as an funding, our conviction lies within the perception that AI shares maintain better promise for delivering greater returns and doing so inside a shorter timeframe. If you’re in search of an AI inventory that’s extra promising than QUBT however that trades at lower than 5 occasions its earnings, try our report in regards to the cheapest AI stock.
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Disclosure: None. This text is initially revealed at Insider Monkey.
