Which quantum tech stocks could see biggest boost from Biden Executive Orders?
(YahooFinance) Vince Cariaga recently assessed the pair of Biden administration directives that bolster quantum computing technology in the United States in terms of which quantum tech stocks could see a lift. IQT-News shares the brief assessment below.
Background: President Joe Biden signed an executive order to place the National Quantum Initiative Advisory Committee directly under White House authority on May 4, MarketWatch reported. That committee is the U.S. government’s primary independent expert body for quantum information science and technology. Separately, the president signed an official memo that outlines his administration’s plan to enhance U.S. cybersecurity through the use of quantum computers. As Politico reported, one element of the memo directs the National Institute of Standards and Technology to study the landscape of cryptography in regards to quantum computing.
So which stocks stand to gain?
A number of tech giants deal in quantum technology through individual products or business units, including Microsoft, IBM, Alphabet and Google. Even Honeywell International has a large quantum computing company, Quantinuum, that formed following the late 2022 merger of Honeywell Solutions and Cambridge Quantum. The new company is expected to go public by the end of 2022, according to U.S. News & World Report.
In terms of pure-play quantum technology stocks, MSN recently cited three in particular that might benefit from Biden’s directives: Arqit Quantum (ARQQ), Rigetti Computing (RGTI) and Quantum Computing (QUBT). Each stock trades on the Nasdaq, but none are exactly setting the world on fire right now, with all three trading for less than $10 a share.
Here’s a quick look, based on Yahoo Finance profiles:
- London-based Arquit, which trades near $8, provides cybersecurity services through satellite and terrestrial platforms in the U.K.
- Rigetti, based in Berkeley, California, builds quantum computers and the superconducting quantum processors that power them. Its stock price trades near $7.
- Quantum Computing is headquartered in Leesville, Virginia, and provides software tools and applications for quantum computers. Its stock trades at around $1.50.
Sandra K. Helsel, Ph.D. has been researching and reporting on frontier technologies since 1990. She has her Ph.D. from the University of Arizona.