SEALSQ Stock Rallies To Over One-Year Highs On Quantum-Resistant Bitcoin Tech Promise: Retail Awaits SpaceX Launch
By Stocktwits Inc | First Published Dec 24, 2024, 9:21 PM ISTSEALSQ stock’s value has more than doubled since Friday, marking a significant three-day rally.
SEALSQ Corp's stock rallied by more than 20% in early trading on Tuesday, reaching its highest level since August 2023, following the company’s announcement of its advancements in quantum-resistant technology aimed at protecting blockchain systems like Bitcoin from quantum computing threats.
Following the initial surge, the stock’s gains tapered to 10% by 10 a.m. ET. Even so, SEALSQ stock’s value has more than doubled since Friday, marking a significant three-day rally.
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SEALSQ, a subsidiary of WISeKey, is advancing post-quantum cryptography (PQC) with innovative solutions, including quantum-resistant hardware, through its QUASARS project.
WISeKey’s U.S.-listed shares also saw a significant boost, rising over 15% during morning trade.
WISeKey initially announced the QUASARS project on Feb. 3, last year, when they incorporated SEALSQ Corp as a new company dedicated to developing post-quantum cryptography solutions.
According to SEALSQ’s analysis, quantum computers could potentially hack Bitcoin signatures within 30 minutes, threatening the security of blockchain networks.
Key vulnerabilities include exposed public keys, which could allow hackers to derive private keys, and dormant coins with lost private keys that remain unprotected.
Retail sentiment around SEALSQ remained optimistic, with investors anticipating further gains as the company prepares for its satellite launch in collaboration with Elon Musk-owned SpaceX.
Many investors on Stocktwits booked profits at market open, contributing to the stock’s slight pullback.
The stock has gained 357.39% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
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