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Jensen Huang's bearish outlook and the high-level placement of shares caused the popular quantum computing stock Quantum Computing (QUBT.US) to plummet before the market opened.
Quantum Computing announced the issuance of Stocks worth $0.1 billion, with a pre-market stock price dropping significantly by over 20%.
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Express News | Rigetti Computing Falls 10.3%,IONQ Inc Down 9.5%, Quantum Computing Down 14.4%, D-Wave Quantum Down 13.5%, Quantum Corp Down 13.7%
Express News | Defiance Quantum ETF Falls 2.1%
Nvidia's Jensen Huang Said Something That Has All Quantum Computing Stocks Tumbling: QUBT And RGTI Down 13%, IONQ Down 11%
Quantum speculative stocks were hit by old Huang.
NVIDIA CEO Jensen Huang admitted yesterday that quantum computing applications will still take decades to materialize. Relevant Concept stocks plunged in after-hours Trade, with IonQ and Quantum Computing's stock prices dropping over 16% at one point. Previously, these companies' stock prices had soared due to market expectations of the potential of related technologies, with Quantum Computing rising over 1800% in the past 12 months.