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We recently published a list of 10 Firms Buck Broader Market Optimism. In this article, we are going to take a look at where Quantum Computing Inc. (NASDAQ:QUBT) stands against other firms buck broader market optimism.
Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.
The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.
Despite the wider optimistic sentiment, 10 companies managed to post declines. Here is why:
To come up with Friday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A data analyst pouring over a chart, the intricacies of its lines being revealed.
Quantum Computing Inc. (NASDAQ:QUBT)
Shares of Quantum Computing Inc. (NASDAQ:QUBT) declined by 6.69 percent on Friday, shedding 1.25 points to close at $17.50 each as investors sold off positions ahead of the 2025 Consumer Electronics Show.
Investors appeared to be waiting on the sidelines for any updates and potential developments from the technology experts in the quantum computing sector, being the backbone of technology and artificial intelligence.
Analysts, however, remained bullish on the sector, amid the rapid expansion of the global quantum computing market, currently valued at $1.3 billion. The market is projected to grow at an impressive compound annual growth rate (CAGR) of 32.7 percent, potentially reaching $5.3 billion by 2029.
US lawmakers also announced support for quantum computing development, recently promising $2.7 billion in government funding to supercharge quantum innovation across computing, sensing, and communications.
Overall, QUBT ranks 3rd on our list of firms buck broader market optimism. While we acknowledge the potential of QUBT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QUBT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.