Quantum Computing Jumps 9.58% to $8.92 as $1.3 Billion Cash Puts 64% of Value on Balance Sheet
Updated
Updated · ts2.tech · Aug 23
Quantum Computing Jumps 9.58% to $8.92 as $1.3 Billion Cash Puts 64% of Value on Balance Sheet
3 articles · Updated · ts2.tech · Aug 23
Summary
QUBT rose 9.58% Friday to $8.92 on 12.51 million shares, reversing most of a three-day slide but still ending the week down 1.00%.
The rally tracked a broad quantum rebound rather than company-specific news, with Rigetti up 11.48%, IonQ 8.02% and D-Wave about 7% in afternoon trading.
QCi ended June with $1.3 billion in cash, equivalents and investments—about 64% of its $2.02 billion market value—leaving roughly $720 million attributed to the operating business.
That valuation sits against a still-small but fast-growing business: Q2 revenue reached $5.6 million, operating expenses were $21.8 million, and first-half acquisition spending totaled about $180 million.
Analysts remain bullish but divided, with a six-analyst Buy consensus and $18.33 average target, while investors now watch whether sector momentum can push QUBT above last week’s $9.18 high.