Quantum Computing (QUBT) Falls on Profit-Taking

We recently published a list of Investors Are Dumping These 10 Stocks. Quantum Computing Inc. (NASDAQ:QUBT) is one of the worst-performing stocks on Thursday.

Quantum Computing fell by 8.17 percent at intraday trading on Thursday at $17.42 apiece as investors resorted to profit-taking following the previous day’s surge.

During the previous day’s trading, Quantum Computing Inc. (NASDAQ:QUBT) rallied following optimistic comments from Nvidia Corp. CEO Jensen Huang that the quantum computing industry is reaching an inflection point.

In his keynote speech at a conference in Paris, Huang said that the application of quantum computers in areas that can solve interesting problems is now within reach.

“This is a really exciting time,” he noted.

Earlier this year, Huang walked back his comment that the practical use of quantum computers is only 15 to 30 years away.

Last week, Ascendiant Capital Markets reaffirmed its “buy” recommendation on Quantum Computing Inc.’s (NASDAQ:QUBT) stock, while raising its price target to $22 from $14 previously.

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.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None.