Quantum Computing Inc. (QUBT) experienced a significant downturn during trading, plummeting 5.20% as the quantum computing sector faced increased volatility. The sharp decline comes as investors adjust their positions ahead of NVIDIA's highly anticipated Quantum Day, scheduled to take place during the NVIDIA GPU Technology Conference (GTC) this week.
The quantum computing industry has been experiencing turbulent trading sessions, with some analysts warning of potential pump-and-dump schemes and short squeezes in the sector. This volatility has affected several quantum computing stocks, including QUBT, which had already seen a 3% drop in overnight trading preceding the current plummet.
Adding to the sector's complexity, NVIDIA announced plans to build a Boston-based Accelerated Quantum Research Center (NVAQC) to advance quantum computing technologies. While this news has generated excitement in the quantum computing space, it has also contributed to market uncertainty as investors reassess the competitive landscape. A panel discussion featuring other quantum computing companies is set for Thursday, which may further influence market sentiment in the coming days.
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