Background

Tech stocks began to plummeted on September 3rd after the ISM manufacturing index reported August figures that came in below consensus expectations. That raised fears about the strength of the economy and increased the chances that the Federal Reserve will cut interest rates.

Our Pure-Play Quantum Computing Stocks Portfolio

By Friday, September 6th, the overall tech market was DOWN 12.2% from the previous week’s close and the Pure-Play Quantum Computing Portfolio itself was DOWN 9.8% by week’s end. Below are how the 4 small, innovative companies, trading on Canadian and/or American stock exchanges that exclusively (i.e. are pure-play) develop and leverage QC performed, in descending order, last week along with their business profiles and market capitalizations and prevailing short interest percentage which is a measure of how many investors are betting that a stock’s price will fall further:

1. IonQ (IONQ): DOWN 8.4% w/e Sept. 6th
   • Company Focus: planning to build a network of quantum computers accessible via the cloud using trapped-ion technology in its processing units which relies on suspending ions in space using electromagnetic fields, and transmitting information through the movement of those ions in a “shared trap.”
   • Market Capitalization: $1,510M
   • Short Interest: 17.1%
2. Quantum Computing (QUBT): DOWN 9.2% w/e Sept. 6th
   • Company Focus: developing photonic qubits that offer a number of key advantages over trapped ions or superconducting qubits
   • Market Capitalization: $56M
   • Short Interest: 2.8%
3. D-Wave Quantum (QBTS): DOWN 12.9% w/e Sept. 6th
   • Company Focus: focuses on quantum annealing technology
   • Market Capitalization: $177M
   • Short Interest: 10.9%
4. Rigetti Computing (RGTI): DOWN 18.5% w/e Sept. 6th
   • Company Focus: specializes in superconducting qubit technology and has developed a suite of software tools and algorithms for programming and simulating quantum computations
   • Market Capitalization: $144M
   • Short Interest: 15.1%

Summary

The Pure-Play Quantum Computing Stocks Portfolio was DOWN 7.9% in August and dropped another 9.8% this week alone due to the prevailing sector-wide negative sentiment.

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