
Penny stock Quantum Computing Inc (QUBT) is up 43% today after the company said it has received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the University of Texas at Austin. QUBT announced its first purchase order as recently as Nov. 13, sparking a 92% surge in the stock that same day.
The shares are now up 224% since the start of this month, but thanks to a 23% pullback from the highs set last week, QUBT isn’t quite technically overbought amid today’s latest breakout.

As indicated by the recent price action, this penny stock is best suited for investors with a high risk appetite - and a long time horizon, with production on the newly secured purchase orders set to begin in Q1 of 2025, when its Tempe foundry is slated to open.
And with a market capitalization of approximately $251.68 million, the penny stock still isn’t cheap, valued at a staggering forward price/sales ratio of 503.36. Even at sub-$5 prices, this highlights that QUBT is largely valued on Wall Street’s speculation regarding its future growth potential as opposed to its current financials.
Only one analyst is currently tracking Quantum Computing stock, with a “moderate buy” rating and $8.50 price target. While generating revenue from the Arizona TFLN foundry is an important strategic accomplishment for management, traders should proceed with caution before considering a stake in the unprofitable growth stock as it looks to defend its Nasdaq listing status.
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