Quantum Computing (QUBT) Soars 12.86% on Window-Dressing

The practice is common among institutional investors, where they tweak portfolios before the reporting periods by loading up on well-performing stocks and trimming those that underperform to present a stronger portfolio to clients.

Quantum Computing Inc. (NASDAQ:QUBT) rallied alongside its counterparts, namely IonQ, Rigetti Computing, and D-Wave, supported by optimism for robust opportunities for the sector.

In other news, Quantum Computing Inc. (NASDAQ:QUBT) recently acquired Luminar Semiconductor, Inc. (LSI), a wholly owned subsidiary of Luminar Technologies, Inc., for $110 million.

According to Quantum Computing Inc. (NASDAQ:QUBT), the acquisition would bring the company a portfolio of core photonic technologies, patents, and a highly experienced team of engineers and scientists that would accelerate its roadmap while continuing to support and grow LSI’s established customer base.

Concurrent with the announcement, LSI’s parent, Luminar Technologies Inc., announced that it has voluntarily submitted a Chapter 11 bankruptcy protection with the US Bankruptcy Court for the Southern District of Texas.

Photo by Jefferson Santos on Unsplash

Quantum Computing Inc. (NASDAQ:QUBT), however, clarified that its acquired company is not a debtor in Luminar’s chapter 11 cases, but would still require the approval of the said court in connection with the acquisition.

While we acknowledge the potential of QUBT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.