Martin Shkreli Blasts Trump's Move To Buy Shares Of Quantum Computing Companies For the US Government, Suggests The President Should Do This Instead

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Oct 24

Investor Martin Shkreli, popularly known as “Pharma Bro,” is criticizing President Donald Trump’s latest decision to acquire equity stakes in quantum computing stocks. On Thursday, in a post on X, ...

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href=https://www.benzinga.com/markets/equities/25/10/48397874/martin-shkreli-blasts-trumps-move-to-buy-shares-of-quantum-computing-companies-for-the-us-government-suggests-the-president-should-do-this-instead><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investor Martin Shkreli, popularly known as “Pharma Bro,” is criticizing President Donald Trump’s latest decision to acquire equity stakes in quantum computing stocks. \nOn Thursday, in a post on X, ...</p>\n\n<a href=\"https://www.benzinga.com/markets/equities/25/10/48397874/martin-shkreli-blasts-trumps-move-to-buy-shares-of-quantum-computing-companies-for-the-us-government-suggests-the-president-should-do-this-instead\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2077746001.SGD","symbol_name":"Blackrock ESG Multi-Asset A2 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post on X, Shkreli slammed the move, being spearheaded by U.S. Deputy Commerce Secretary Paul Dabbar, a former quantum computing executive and an energy department official, currently engaged in discussions with the companies.\nCompanies such as IonQ Inc. (NYSE:IONQ), Rigetti Computing (NASDAQ:RGTI), Quantum Computing Inc. (NASDAQ:QUBT) and D-Wave Quantum (NYSE:QBTS), along with privately-held Atom Computing, are reportedly vying for government funding. \nSee Also: IonQ Claims New Quantum High With 99.99% Gate Fidelity\nHowever, according to Shkreli, neither of these companies requires the government’s funding, since they “have more than enough capital.”\nHe added that the “government is not a VC,” highlighting it as another reason why it should stay clear of making such investments. \nShkreli also added that bigger companies with a quantum computing play, such as Alphabet Inc. (NASDAQ:GOOG), IBM Corp. (NYSE:IBM) and Microsoft Corp. (NASDAQ:MSFT), “don’t need a handout” from the government, given their substantial resources. \nHe concludes by saying that if the government wants to invest in quantum computing, it should “support academics” instead. \nShkreli has been an outspoken critic of quantum computing stocks in recent months, calling out the companies for inflating their revenues through “gimmicks” or “desperate acquisitions.”\nHe has also repeatedly called his short positions against stocks such as IonQ and Rigetti, “one of the best shorts” of his career, noting errors and issues with their respective quantum devices. \nHowever, as these stocks have continued to climb in recent months, he has expressed his frustration in a series of posts on X, saying that he was far from okay with his short positions going against him, highlighting the pressure that bearish investors can come under when caught on the wrong side of momentum.\nTrump’s decision to explore an equity stake in these companies could only make things worse for Shkreli’s positions going forward.\nAccording to Benzinga’s Edge Stock Rankings, the Defiance Quantum ETF, which tracks several quantum computing stocks, scores high on Momentum, with a favorable price trend in the short, medium, and long terms. Click here for deeper insights into the fund and its alternatives.\nPhoto Courtesy: Alexander56891 from Shutterstock\nRead More:","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}