Why Did Quantum Computing Stock Pop Today? - The Motley Fool
Summarize this article with:
Shares of eponymous quantum computing company Quantum Computing Inc. (QUBT 6.97%) soared 8% through 12:45 p.m. ET Wednesday. And why? That's not entirely clear. So far as I can tell, there's no significant quantum stock news concerning Quantum Computing stock today, nor concerning quantum stocks in general -- at least not here in the U.S. Overseas, on the other hand, a quantum start-up called IQM just announced it will become Europe's first publicly listed quantum computing stock. Image source: Getty Images. Who is IQM? As CNBC reports this morning, IQM is based in Finland -- but plans to list its stock on the NYSE. IQM will go public in a SPAC transaction, with special purpose acquisition vehicle Real Asset Acquisition Corp (RAAQ +0.28%) doing the honors by buying IQM and reverse-merging the start-up into its own, already-listed stock.
Ad Pay No Interest for Nearly 2 Years This card offers one of the longest intro APR periods available today — and it could save you more than $2,000 in interest payments. Apply in minutes > The companies say they anticipate a valuation of $1.8 billion for IQM. Relative to the company's $35 million in annual revenue, that works out to a 51.4 price-to-sales ratio. CollapseQUBTNASDAQ: QUBTQuantum ComputingToday's Change(-6.97%) $-0.63Current Price$8.41QUBTYTD1w1m3m6m1y5yPriceVS S&PKey Data PointsMarket Cap$2.0BDay's Range$8.11 - $8.8052wk Range$4.37 - $25.84Volume12MAvg Vol16MGross Margin-77783.88% What it means for Quantum Computing stock But is any of this relevant to Quantum Computing stock? Perhaps -- but not in a way that's going to make Quantum Computing stock owners happy. Will AI create the world's first trillionaire? One little-known company, called an "Indispensable Monopoly" owns the technology Nvidia, AMD, and Intel cannot function without. And it is still just a fraction of Nvidia’s size. We just released a brand-new report with the full story and the company’s name. Continue › According to data from S&P Global Market Intelligence, Quantum Computing had a grand total of $546,000 in sales over the last 12 months, yet carries a market capitalization value of $1.8 billion. That's a P/S ratio of more than 3,600. If given the same price-to-sales valuation that IQM is getting, though, Quantum Computing stock would only be worth $28 million. If anything, Quantum Computing stock should be going down today -- not up.