Quantum Computing Stock Poised To Build On Gains Even As Peers Pause: Retail Mood Turns Mixed

Quantum Computing, Inc. ($QUBT) shares rose sharply in Wednesday’s premarket trading even as its smid-cap peers appear to be heading for a down day.

In premarket trading, Quantum Computing stock was up 11.97% at $18.80 as of 9:18 a.m. ET. 

The stock jumped over 51% on Tuesday amid above-average volume, after the Hoboken, New Jersey-based company said it has been awarded a prime contract by the National Aeronautics and Space Administration’s (NASA) Goddard Space Flight Center

The contract provides for applying Quantum Computing’s entropy quantum optimization machine, Direc-3, to support NASA’s advanced imaging and data processing demand. 

“This contract underscores the Company's commitment to advancing next-generation quantum and photonic technologies to tackle complex optimization and computational challenges,” the company said.

The stock has gained a whopping 1,745% for the year.

QUBT Chart Courtesy of TradingView

The quantum computing market is expected to add a total of more than $1 trillion to the global economy between 2025 and 2035, according to Quantum Insider. The firm expects quantum computing vendors to generate $50 billion in revenue by 2035.

Retail chatter about Quantum Computing stock has been brisk but sentiment has turned  mixed.

One Stocktwits platform user expressed apprehensions about the utility of the technology in the near term, adding that Quantum Computing should not be a long-term holding.

But another said the NASA contract alone could take the stock toward $50.

Quantum Computing’s peers Rigetti Computing, Inc. ($RGTI) traded down about 1.2% in Wednesday’s premarket, D-Wave Quantum, Inc. ($QBTS) and IonQ, Inc. ($IONQ) fell about 6% each.

For updates and corrections, email newsroom[at]stocktwits[dot]com.