Quantum Computing (QUBT) on 3-Day Decline as Traders Sour on Share Sale

We recently published 10 Stocks Taking a Nosedive. Quantum Computing Inc. (NASDAQ:QUBT) is one of the worst performers on Wednesday.

Quantum Computing extended its losing streak to a third straight day on Wednesday, dropping 5.41 percent to close at $20.82 as investors sold off positions following the completion of its $750 million share sale.

On the same day, Quantum Computing Inc. (NASDAQ:QUBT) concluded its private placement offering, raising the said amount through the issuance of more than 37.18 million new shares. The drop was mainly due to the potential dilution of existing shareholders’ ownership in the company.

According to Quantum Computing Inc. (NASDAQ:QUBT), it intends to use the net proceeds to fully fund commercialization, pursue strategic acquisitions, establish volume production capabilities, expand sales and engineering personnel, working capital, and general corporate purposes.

“Total capital raised since November 2024 is now $1.64 billion, positioning [the company] with the strongest balance sheet among publicly traded quantum computing companies and providing what we believe is sufficient funding to execute our current business plan through 2028,” said Quantum Computing Inc. (NASDAQ:QUBT) CEO Yuping Huang.

“Our focus now shifts to expedite the transition from a quantum technology innovation company to a leading quantum hardware manufacturer, progressing our mission of putting quantum into the hands of people,” he added.

While we acknowledge the potential of QUBT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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