Why Quantum Computing Is Skyrocketing Today
Shares of Quantum Computing (NASDAQ: QUBT) are surging on Tuesday, up 4.2% as of 2:52 p.m. ET but up as much as 22.7% earlier in the day. The jump comes as the S 500 and the Nasdaq Composite both had modest gains.
Though there isn't a specific catalyst for the company today, positive news from another quantum company is bleeding into all quantum stocks.
In a deal worth more than $1 billion, Quantum Computing's rival, IonQ, is purchasing the U.K.-based Oxford Ionics. The move will combine IonQ's hardware and software with Oxford Ionics' advanced semiconductors to further the company's quest to create a viable commercial quantum computer. As CEO Niccolo De Masi put it, the move allows the company to "set a new standard within quantum computing."
Source Fool.com
