We Asked Retail Traders Their Top Quantum Stock: D-Wave Leads The Pack, Followed By Rigetti
Most major quantum computing stocks have all turned lower this year, except for D-Wave.
Quantum computing stocks have weathered the recent market downturn fairly well although most, with the notable exception of D-Wave Quantum, Inc. (QBTS), have been lower for the year-to-date period.
Last week, the performances of notable quantum computing stocks were as follows:
- D-Wave Quantum - +96%
- Rigetti Computing, Inc. (RGTI) - +20%
- IonQ, Inc. (IONQ) - +21.7%
- Quantum Computing, Inc. (QUBT) - +41%
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The gains came despite the broader S&P 500 Index and the tech-heavy Nasdaq Composite ending the week down 2.28% and 2.43%, respectively, despite making a strong recovery in the final session.
An ongoing Stocktwits poll that probed platform users about which quantum stock they were buying has received 4,000 responses so far.
More than half (56%) said they were accumulating D-Wave shares and about one-fifth (21%) picked Rigetti. IonQ stock was favored by 15% of the users and Quantum Computing by 8%.
A user who commented on the poll said they would buy none in the current fluid macroenvironment. But they named D-Wave a good company.
Some also threw in the names of SEALSQ Corp. (LAES), Quantum eMotion, Inc. (QNCCF), Wimi Hologram Cloud, Inc. (WIMI), MicroCloud Hologram, Inc. (HOLO) and Visionary Holdings, Inc. (GV) as preferred quantum computing stock plays.
D-Wave’s stellar weekly run came after a few announcements, including a paper publication in the Science journal regarding the superiority of the company’s Advantage2 prototype annealing quantum compute over the Frontier supercomputer.
The company’s upbeat quarterly revenue and its first-quarter revenue guidance, which came in significantly above the consensus, also proved healthy for the stock.
Following the fourth-quarter print, Roth MKM and B. Riley upped their stock price target to $12 and $10, respectively, from $11 and $7, TheFly reported.
Sentiment toward D-Wave stock stayed ‘extremely bullish’ (86/100), with the buoyant mood accompanied by ‘extremely high’ retail chatter.
IonQ investors largely ignored a short report from Kerrisdale Capital, which called out the manufacturer of high-performance quantum computers for its staggering valuation despite being far from a “new era of commercial success."
Retail sentiment toward IonQ and Quantum Computing stocks stayed ‘bullish’ and the message volume remained ‘high.’
Rigetti stock also drew a ‘bullish’ reaction (62/100) from retailers but the message volume on the stream stayed ‘normal.’
For the year-to-date period, D-Wave stock is up nearly 21%, while Quantum Computing stock is down about 58%. Rigetti and IonQ shares have lost about 27% and 40%, respectively.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
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