Tue Dec 17 14:00:00 UTC 2024: ## Quantum Computing Inc. (QUBT) Stock Soars to 52-Week High Despite Delisting Risk
**NEW YORK –** Shares of Quantum Computing Inc. (NASDAQ: QMCO, QUBT) have skyrocketed to a 52-week high of $9.31, marking a staggering 961.79% increase over the past year. The surge, however, comes amidst concerns about the company’s financial health and a potential delisting from the Nasdaq.
The company’s market capitalization now stands at $793 million, significantly above its fair value according to InvestingPro data. While investor enthusiasm is fueled by the potential of quantum computing technology, the company is not projected to be profitable in 2024, with a current EBITDA of -$20.3 million.
Despite the profitability concerns, recent positive developments have contributed to the stock’s rise. Quantum Computing Inc. recently raised $40 million in a stock offering to repay debt and bolster working capital. The company also secured a purchase order from the University of Texas at Austin for its photonic chips and a new contract with NASA to develop quantum remote sensing technology. Furthermore, its partnership with Los Alamos National Laboratory on the Dirac-3 quantum optimization machine continues. The company plans to launch its quantum photonic chip foundry in 2025.
However, the company faces a potential delisting from the Nasdaq due to non-compliance with listing rules. Ascendiant Capital, while maintaining a “Buy” rating, lowered its 12-month price target to $8.25 from $8.75, reflecting this risk. The high volatility of QUBT shares also highlights the inherent uncertainty surrounding the company’s future.
The significant jump in stock price underscores the intense investor interest in the burgeoning quantum computing sector, but also highlights the considerable risks associated with investing in a company with a significant loss and facing delisting threats.
First Piper 