Quantum computing stocks have been on a wild ride over the past few months. After a late-2024 surge that saw names like IonQ (NYSE: IONQ) and Rigetti Computing (NASDAQ: RGTI) more than double, the sector took a hit in January when Nvidia CEO Jensen Huang downplayed the near-term potential of quantum computing.
That sell-off created a consolidation phase that traders have been watching closely. And now, with IONQ’s latest earnings report out, the entire sector is in play again.
Let’s break down what’s happening, where the opportunities might be, and which stocks are worth watching as the quantum sector finds its next move.
IonQ (NYSE: IONQ) – The Sector Leader Reacts to Earnings
IonQ has been the face of the quantum computing stock boom, running from $21 in November 2024 to over $54 by early January 2025. But the pullback since then has been brutal, with the stock giving up nearly 50% of its gains.
Even though its earnings beat expectations, the stock’s price to earnings (P/E) ratio is still negative. IONQ, like the rest of these quantum stocks, is losing money… and it looks like that will continue to be the case for a long time.
- Q4 revenue: $11.7 million (beat estimates of $10.3 million)
- Stock reaction: Dropped from near $30 to a low of $26.69 after earnings
- Market impact: Other quantum stocks saw sympathy moves lower
The report wasn’t necessarily bad, but traders were already skeptical after the January sell-off. With IONQ still trading in a consolidation range, this earnings dip could either set up a bounce—or signal more pain ahead.
Rigetti Computing (NASDAQ: RGTI) – The Sector’s New Momentum Leader
When the entire sector sold off in January, RGTI was the first to bounce. That’s an important sign—past leaders often stay leaders when the sector heats back up.
- Recent catalyst: Microsoft’s February 19 quantum computing microchip announcement
- Why it matters: Microsoft says quantum computing will be here in “years, not decades”
- Stock reaction: RGTI bounced harder than the rest of the sector, showing strong relative strength
This is a key one to watch. If quantum stocks make a move higher, RGTI could be the best trade of the group.
More Breaking News
- CLSK Stocks Soar with Expanded Bitcoin Ventures
- Why Nu Holdings Is Buzzing Today?
- Hesai Group’s Lidar Breakthrough: Future Prospects Explored
Quantum Computing Inc. (NASDAQ: QUBT) – The Short Report Wildcard
QUBT had a massive 1,800%* spike in late 2024, driven by hype and speculation. Then it got hit with a short report that sent it tumbling.
But traders love a beaten-down stock with bounce potential.
- January 15 bounce: QUBT surged 50% in a single day
- Potential setup: Another squeeze if volume picks up
- Key strategy: Watch for high-volume breakouts, but don’t hold overnight without a plan
With short interest still elevated, this one is a prime candidate for another round of volatility.
D-Wave Quantum Inc. (NYSE: QBTS) – The “New Order” Play
QBTS just made a major announcement: it sold a quantum computer to the Julich Supercomputing Centre.
That’s a real business deal in a sector filled with hype.
- Stock reaction: Jumped 30% on the news
- Key setup: If momentum builds, this could be a breakout trade
- Sector timing: If Microsoft’s quantum push gains traction, QBTS benefits
Traders should keep an eye on how QBTS holds up after the initial spike. If it finds support and volume stays strong, it could be setting up for another leg higher.
* Past performance isn’t an indicator of future results.
Final Thoughts – Where Does the Sector Go From Here?
Quantum computing stocks have been beaten down, but they aren’t dead.
- IONQ’s earnings reaction will likely dictate short-term sentiment.
- RGTI has shown the most strength and could lead the next move.
- QUBT is a wildcard for traders who like volatility and short-squeeze setups.
- QBTS has an actual business deal—something rare in this space—and could keep climbing.
The key takeaway? Past spikers can spike again.
This is a sector that thrives on hype and momentum. When it moves, it moves fast. Traders should stay disciplined, wait for setups, and be ready when the next big push comes.
If you want to improve your trading, join my free daily live trading sessions. I break down real-time trade plans and help traders navigate the market with confidence every day!
What quantum computing stocks are on your watchlist—let me know in the comments!