What's Going On With Quantum Computing Stock Today?

Quantum Computing Inc QUBT shares spiked in early trading Tuesday after the company announced the sale of a reservoir computer to a major automotive manufacturer.

What Happened: Quantum Computing (QCi) said it sold and shipped one of its EmuCore reservoir computers to a major automotive manufacturer for research and development purposes.

EmuCore offers a flexible low-power environment to leverage machine learning to explore edge use cases and validate processing workloads. The device can solve problems related to serial data structures, including time series prediction and image recognition.

QCi noted that this form of technology shows promising potential for AI model training in terms of power consumed and time required.

“We’re excited to support one of the world’s leading automotive innovators with the delivery of our EmuCore reservoir computing device. This sale represents a meaningful validation of our technology in real-world environments and is yet another example of the increasing demand we’re seeing for our devices and offerings in diverse markets,” said William McGann, CEO of Quantum Computing Inc.

See Also: EXCLUSIVE: Why Defiance Is Letting You Go 2X Long On Quantum, And 2X Short On AI, Straight From The CEO

Is QUBT A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Quantum Computing‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. Quantum Computing QUBT does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Quantum Computing will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

QUBT Price Action: Quantum Computing shares were up 2.73% at $6.03 at the time of publication Tuesday, according to Benzinga Pro.

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