Shares of Quantum Computing Inc. (QUBT) surged 13.22% in pre-market trading on Friday, as the quantum computing sector experienced a broad rally. The significant upward movement in QUBT's stock price reflects growing investor enthusiasm for companies in the quantum technology space.
The surge in QUBT's stock price comes amid a broader uptick in quantum computing-related stocks. Other companies in the sector also saw notable gains, with Quantum Computing Systems (QBTS) rising 6%, Rigetti Computing (RGTI) and Quantum Corp (QMCO) both up 5%, Lase Access Systems (LAES) climbing 4%, and Arqit Quantum (ARQQ) increasing by 2%.
This sector-wide rally may have been fueled in part by recent developments in the quantum computing field. Notably, IBM and HSBC announced a significant quantum computing breakthrough, demonstrating that pairing quantum computers with classical techniques can provide real-world benefits in areas such as algorithmic bond trading. While this news primarily involves IBM, it has likely contributed to increased optimism about the potential of quantum computing technologies across the board, benefiting smaller players in the sector like Quantum Computing Inc.