BTQ Technologies (BTQ) Jumps to New High on Appointment of 2 Execs

We recently published 10 Hot Stocks Sparking Buying Frenzy. BTQ Technologies Corp. (NASDAQ:BTQ) is one of the best performers on Tuesday.

BTQ Technologies soared to a new all-time high on Tuesday, jumping 51.54 percent to finish at $13.79 apiece as investors cheered the inclusion of two key executives expected to help support the company’s quantum computing plans.

During the session, BTQ Technologies Corp. (NASDAQ:BTQ) soared to its highest price of $14.38 before trimming gains to end the day up 51.54 percent at $13.79 apiece, following news that Sean Hackett and Zach Belateche—founders of Radical Semiconductor, which the former earlier acquired—have officially joined the company full-time.

BTQ Technologies Corp. (NASDAQ:BTQ) said that Hackett and Belateche would support the acceleration of its post-quantum commercialization efforts, as it aims to gain a foothold in the rapidly expanding quantum computing sector.

The executives’ twin appointments followed comments from Eric Jackson, investor and founder of EMJ Capital, that BTQ Technologies Corp. (NASDAQ:BTQ) is currently undervalued as compared with its largest competitor, Quantum Computing Inc. (NASDAQ:QUBT), whose market capitalization currently stands at $4 billion versus BTQ’s nearly $2 billion.

According to Jackson, BTQ Technologies Corp. (NASDAQ:BTQ) is currently undervalued despite “arguably having fewer patents, employees, and near-term revenue prospects.”

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Disclosure: None. This article is originally published at Insider Monkey.