Quantum stocks were popping on Friday after trending across social media for most of the week. Here's a look at what's going on in the quantum computing sector.
- RGTI stock is climbing. See the real-time chart here.
Q/C Technologies – QCLS
There's a new name in the quantum computing space: Q/C Technologies, Inc. (NASDAQ:QCLS), formerly TNF Pharmaceuticals, Inc. (NASDAQ:TNFA).
The company announced a strategic pivot into quantum computing, securing exclusive global rights to LightSolver's light-speed laser processing unit (LPU) for applications in the cryptocurrency vertical.
"Our new name and identity better reflect the Company's future," said Joshua Silverman, chairman of Q/C Technologies.
"With exclusive rights to LightSolver's innovative computing platform for the crypto vertical, we are advancing a first-mover strategy in a trillion-dollar industry under immense pressure to evolve profitably and at scale," he added.
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Rigetti – RGTI
Last week, Rigetti Computing, Inc. (NASDAQ: RGTI) announced that it had secured purchase orders worth $5.7 million for two 9-qubit Novera quantum computing systems.
B. Riley analysts maintained a Buy rating on Rigetti shares and raised the price target from $19 to $35.
Rigetti stock was up more than 17% on the week and 140% on the month.
IonQ – IONQ
IonQ was trending across the board, likely moving in sympathy with other quantum names.
IonQ stock has increased by 68% over the past month.
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D-Wave Quantum – QBTS
CNBC host Jim Cramer recently advised D-Wave Quantum, Inc. (NYSE:QBTS) to adjust its cost basis and "let the rest run."
Last week, B. Riley analyst Craig Ellis maintained a Buy rating on D-Wave and raised the price target from $22 to $33.
The research note highlighted a 50% price target increase, expressing confidence in D-Wave’s prospects and its leadership in the quantum-computing sector.
Quantum Computing – QUBT
Quantum Computing, Inc. (NASDAQ:QUBT) debuted its Quantum Secure Solution, a commercial, high-dimensional, time-energy-based quantum secure network, at the European Conference on Optical Communication this week.
“We believe quantum-secure communication should be practical, scalable, and future-proof,” said Dr. Yuping Huang, CEO of QCi.
“Our solution is not theoretical. It’s built for deployment in real-world infrastructure today,” Huang added.
Last week, QCi closed an oversubscribed private placement that raised $500 million by selling 26.87 million shares of common stock.
QUBT stock was up 24% on Friday.
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