Quantum Computing Shares See Decline Amid Research Report

Quantum Computing, Inc. (NASDAQ: QUBT) is experiencing a drop in its stock prices following critical remarks from Iceberg Research.

The Report: Iceberg Research published a document titled “$QUBT is Already Running Behind with its New Chip Manufacturing Hype,” in which it alleges that Quantum Computing has been following various trends and hypes for several years without concrete results, with its current focus on chip manufacturing.

Quantum Computing is working on the production of thin-film lithium niobate (TFLN) devices. According to Iceberg Research, creating TFLN devices is a challenging process and securing the materials for these devices is not straightforward. The report raises concerns regarding how the company plans to tackle these complications since they have not provided clear information on the matter.

Additionally, the research highlights that Quantum Computing has postponed the production timeline of these chips. Originally set to begin in early 2024, the company now anticipates production to commence in the first quarter of 2025.

Iceberg Research also casts doubt on Quantum Computing's capabilities concerning the mass production of TFLN devices. They reference Quantum’s track record, which lacks significant commercial accomplishments stemming from its patents. The report concludes by stating that the setup for Quantum's foundry appears more akin to a laboratory rather than a commercial manufacturing facility.

Current Stock Price Action

As of the latest data, Quantum Computing's stock is trading at $7.53, reflecting a decrease of 5.04%.

Image: 6690189 from Pixabay.

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