Why Does Quantum Computing Stock Keep Going Up?

Yesterday, arsenic you've astir apt heard, The Wall Street Journal reported connected a Trump Administration program to grant $2 cardinal successful grants to 9 quantum computing companies -- nary of which is named Quantum Computing (NASDAQ: QUBT).

It's possibly unsurprising that the institution named "Quantum Computing" inactive got caught up successful the quantumania yesterday. Indeed, Quantum banal started moving a time earlier the announcement, past rocketed higher yesterday -- and higher again today.

Will AI make the world's archetypal trillionaire? Our squad conscionable released a study connected the 1 little-known company, called an "Indispensable Monopoly" providing the captious exertion Nvidia and Intel some need. Continue »

Up 15.6% done 11:50 a.m. Friday, Quantum shares person gained 44% successful 3 days of trading. But does it marque consciousness that 1 of the only quantum computing stocks to not win a assistance is going up close alongside each the quantum computing stocks that did?

Now it's authoritative

Maybe... if determination was a typo successful the Journal article? Maybe... if idiosyncratic simply forgot to notation that Quantum Computing got its ain contract, too?

Except that didn't happen.

Shortly aft WSJ broke the story, the Department of Commerce confirmed the database of winners. Operating nether the CHIPS and Science Act, Commerce volition "support and accelerate captious probe and manufacturing of technologies for the quantum ecosystem," awarding foundry contracts to Globalfoundries (NASDAQ: GFS) and International Business Machines (NYSE: IBM), and quantum exertion contracts to "Atom Computing," "Diraq," "PsiQuantum," "Quantinuum," D-Wave Quantum (NYSE: QBTS), Infleqtion (NYSE: INFQ), and Rigetti Computing (NASDAQ: RGTI).

But again, not a penny for Quantum Computing Inc.

What does this mean for Quantum Computing stock?

Most grants were for $100 million, capable to springiness Quantum Computing 2 years of runway earlier it runs retired of wealth -- if it had won a grant. Without a grant, Quantum Computing indispensable proceed burning its ain currency astatine a complaint of much than $42 cardinal per year.

This is atrocious news, not bully news, for Quantum Computing stock.

Should you bargain banal successful Quantum Computing close now?

Before you bargain banal successful Quantum Computing, see this:

The Motley Fool Stock Advisor expert squad conscionable identified what they judge are the 10 champion stocks for investors to bargain now… and Quantum Computing wasn’t 1 of them. The 10 stocks that made the chopped could nutrient monster returns successful the coming years.