Shares of Rigetti Computing, Quantum Computing Inc., D-Wave Quantum, and IonQ are extending a sector rebound for a second straight session. In morning trading, RGTI is up 17%, QUBT is up 14%, QBTS is up 13%, and IONQ is up 8%. The move is building on Thursday’s gains, forming a two-day rally with substantial cumulative magnitude across the group. RGTI and QBTS, the most beaten-down names entering the week, are leading again on Day 2. QUBT remains in the middle of the pack, while IONQ bounces the least despite strong one-month performance. The companies use different quantum approaches, including superconducting qubits, annealing systems, and trapped ions.
"Shares of Rigetti Computing ( NASDAQ:RGTI), Quantum Computing Inc. ( NASDAQ:QUBT), D-Wave Quantum ( NYSE:QBTS), and IonQ ( NYSE:IONQ | IONQ Price Prediction) are extending Thursday's sector rebound into a second straight session. In morning trading, RGTI shares are up 17%, QUBT shares are up 14%, QBTS shares are climbing 13%, and IONQ shares are rising 8%."
"It's no longer a one-day bounce. RGTI, QBTS, QUBT, and IONQ shares are now mid-way through a two-day rally with serious cumulative magnitude across the basket, extending well beyond Thursday's single-session bounce. 24/7 Wall St. flagged Thursday's sharp rebound across RGTI, QBTS, QUBT, and IONQ. Today's session is stacking right on top of yesterday's gains, and the leadership pattern inside the group is repeating almost line for line."
"Day Two Stacks on Day One RGTI shares are up 17% today, on top of Thursday's 19% jump. Rigetti stock trades near $26, against a $22.04 prior close. QBTS shares are up 13% today, on top of Thursday's 19% move. D-Wave Quantum stock's one-month gain now sits at 33%. QUBT shares are up 14% today after rising 13% on Thursday. Quantum Computing Inc. stock has now logged a one-month gain of 27%. IONQ shares are up 8% today, after climbing 7% on Thursday. IonQ stock remains the day's laggard, even though its one-month gain of 31% is undeniably impressive."
"Same Dispersion Pattern Repeats The ranking within the group from Thursday is repeating today almost exactly. RGTI and QBTS, the two most beaten-down names heading into the week, are leading again on Day 2. QUBT continues to sit in the middle of the pack. IONQ, a strong one-month and year-to-date (YTD) performer, is again bouncing the least, consistent with the classic deepest-pullback-bounces-hardest pattern playing out across two consecutive sessions."
Read at 24/7 Wall St.
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