Why Quantum Computing Stock Skyrocketed This Week
Shares of Quantum Computing (NASDAQ: QUBT) soared higher this week. The company's stock jumped 7.3% as of 1:09 p.m. ET on Friday, but gained as much as 9.8% earlier in the week. The rise comes as the S 500 (SNPINDEX: ^GSPC) lost 2.5% and the Nasdaq-100 lost 2.2%.
A string of positive news from other quantum companies boosted the company's stock. This comes on the heels of the company's earnings release late last week that showed a profitable quarter.
Given that the technology is in its infancy, investors have, by and large, been rewarding all quantum stocks when there is positive news from any one company.
Source Fool.com
