Small Cap Tech Stock Soars On University Order Announcement

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, November 20, 2024

A tech company based out of Virginia stole the early-Wednesday show after the company announced it received a second order for its TFLN photonic chip foundry from the University of Texas.

Traders were quick to snatch up shares of Quantum Computing Inc. (Nasdaq:QUBT), pushing the small cap up to $3.80/share (+49.61%) at the early session high. This move is a strong continuation of the success this stock has had since the end of summer.

Quantum Computing Inc. (QCi), a first-to-market nanophotonic-based quantum technology company offers real-world, affordable commercial applications. QCi delivers democratized quantum solutions at greater speed and accuracy, at room temperatures, with little training, low power and no unique environmental requirements. QCi's leverages its core technology throughout its product offerings of computing, sensing and imaging solutions. QCi's entropy computer, the Dirac, delivers solutions for binary (11,000+ qubits) and integer (1000+ qudits) optimization problems, the highest number of variables and problem size available in quantum computing today. QCi's quantum applications include Reservoir Photonic Computer (AI), cybersecurity, imaging, sensing (LiDAR), and QRNG products.

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