Why Quantum Computing Inc. Stock Fell 30% in November

By Jeremy Bowman – Dec 1, 2025 at 8:54PMKey PointsConcerns about an AI bubble led to a sell-off in quantum computing stocks.QCi reported better-than-expected revenue in its third quarter.The company announced a partnership with POET Technologies. NASDAQ: QUBTQuantum ComputingMarket Cap$2.6BToday's Changeangle-down(-6.33%) $0.74Current Price$10.96Price as of December 1, 2025 at 3:58 PM ETInvestor sentiment seems to be turning away from quantum computing stocks.Quantum Computing Inc. (QUBT 6.33%) stock was among the losers as the development-stage company fell alongside a broader retreat in tech stocks. Given that the company isn't yet generating material revenue, it shouldn't be surprising that QCi, as the company is also known, is sensitive to concerns about a bubble in AI stocks. Nonetheless, Quantum Computing Inc. delivered better-than-expected results in its third-quarter earnings report, which came out in the middle of the month, and it announced a collaboration with POET Technologies. According to data from S&P Global Market Intelligence, the stock finished November down 30%. As you can see from the chart below, the stock fell sharply in the first half of the month before stabilizing in the second half. QUBT data by YCharts What's happening with Quantum Computing Inc.? With less than $1 million in quarterly revenue, QCi isn't big enough for investors to judge it on results, and the stock therefore tends to move in response to broader investor sentiment, especially around high-risk emerging technologies like quantum computing. However, the company did have some news to share. On Nov. 11, it announced a strategic collaboration with POET Technologies to develop thin-film lithium niobate engines to power data transfers for AI systems and hyperscalers. Still, like most announcements out of the quantum computing sector, this is a promise of future activity, rather than current achievement. On Nov. 14, QCi reported third-quarter results with revenue of $384,000, up from $101,000 in the quarter a year ago, which also beat the consensus at $116,670. Management noted a recent sale to a top 5 U.S. bank in the quarter. The company also raised $750 million after the quarter closed to bring its liquidity to more than $1.5 billion, which should give it a long runway to invest as it reported a modest generally accepted accounting principles (GAAP) operating loss of $10.4 million in the quarter. Image source: Getty Images. What's next for QCi QCi's balance sheet should give investors some confidence going forward, but it's still likely to be years before the company is generating material revenue. Management did not offer guidance in the earnings release, a sign that financial results still aren't where the company wants investors to focus. Given that, the stock is likely to continue to trade according to sentiment, which could be a problem if bubble talk springs up again, as QCi is still trading at a market cap of $2.5 billion with little in the way of real results.About the AuthorJeremy Bowman has been a contributing Motley Fool stock market analyst, covering technology, consumer goods, and macroeconomic trends since 2011.

Before The Motley Fool, Jeremy was a newspaper reporter, restaurant manager, and English teacher abroad. He holds a bachelor’s degree in English from Colorado College and a master’s degree in business administration from American University. One of his Motley Fool headlines was briefly featured on Late Night with Stephen Colbert.TMFHoboX@TMFBowman