Quantum Computing Inc. (QUBT) has seen a notable increase in its stock price, driven by a combination of factors that have recently captured investor interest. A significant development is the purchase of a new stake by XTX Topco Ltd, which acquired 69,999 shares valued at approximately $46,000 during the third quarter, as disclosed in a recent SEC filing. This acquisition represents a 0.07% ownership in the company, indicating growing institutional interest in Quantum Computing Inc.
Additionally, the broader quantum computing sector has been buoyed by recent technological advancements and increased government funding. Notably, industry giants like Google and Amazon have made strides in quantum technology, with Google's Willow chip and Amazon's Quantum Embark initiative sparking renewed interest. The U.S. government's allocation of $2.7 billion for quantum computing has further fueled optimism in the sector. Quantum Computing Inc.'s recent contract with NASA, involving its Dirac-3 system for advanced imaging and data processing, has also contributed to the positive sentiment surrounding the stock.
Quantum Computing Inc.'s stock is currently trading at $18.47, reflecting a 4.82% increase from its previous close of $17.62. The stock experienced significant volatility, with a high of $19.88 and a low of $13.81.