Why Quantum Computing Stock Is Skyrocketing This Week

Shares of Quantum Computing (NASDAQ: QUBT) are surging this week, up 24.2% as of 1:22 p.m. ET. The jump comes as the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both had modest gains.

At his company's GTC Paris developer conference on Wednesday, Nvidia CEO Jensen Huang indicated that he thinks quantum computing is reaching an "inflection point," boosting stocks across the industry.

Earlier this year, Huang sent quantum stocks sliding after he said he believes useful quantum computers were 15 years or more away. He later qualified his remarks and walked them back somewhat, even hosting executives from around the industry to "tell him why he was wrong."

Source Fool.com