QBTS, IONQ, RGTI: Here's Why Quantum Computing Stocks Are Soaring Today
Quantum computing stocks, including IonQ, Rigetti Computing, and D-Wave Quantum, soared over 11% due to bullish options activity. IonQ saw a 12.5% increase with 50,000 call contracts traded, Rigetti rose 13.6% with 65,000 calls, and D-Wave gained 13% following positive commentary. The sector's optimism is driven by rising investment, enterprise interest, government backing, and technological breakthroughs. McKinsey projects the quantum technology market could reach $97 billion by 2035.
Quantum computing stocks rallied sharply Thursday morning, with IonQ (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) all trading over 11% higher. The rally is fueled by a surge in bullish options activity, according to Sherwood News.
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Options Frenzy Driving Gains
IonQ stock gained 12.5% as options traders piled in, with nearly 50,000 call contracts traded. This is more than double its 20-day average. Most of the activity centered on strikes between $50 and $55 expiring from this Friday through mid-January.
Further, Rigetti Computing rose 13.6% with more than 65,000 calls traded, nearly matching its full 20-day average, signaling strong bullish sentiment.
Also, D-Wave Quantum stock gained 13% after receiving positive commentary from Evercore ISI. While call activity wasn't as elevated as its peers, the put/call ratio fell below 0.3, versus a 0.7 average, showing investors leaning bullish.
Key Factors Behind Quantum Sector Optimism
Positive sentiment in the quantum computing sector is being driven by rising investment, growing enterprise interest, government backing, and technological breakthroughs.
It is worth noting that all major companies are exploring quantum applications in finance, healthcare, logistics, and cybersecurity. Also, governments are prioritizing quantum research as a matter of national competitiveness and security. Lastly, breakthroughs in scaling and stabilizing qubits are bringing commercial use cases closer to reality.
Interestingly, McKinsey projects the quantum technology market could reach up to $97 billion by 2035, with quantum computing accounting for the majority of revenue.
Which Quantum Computing Stock Is Best to Buy Now?
We use the TipRanks Stock Comparison tool to see how Wall Street analysts are rating D-Wave Quantum, IonQ, and Rigetti, and which company they believe has the strongest upside.
