10 Stocks With Massive Losses; AI Stocks Not Spared

8. Quantum Computing Inc. (NASDAQ:QUBT)

Quantum Computing extended its losing streak to a 4th straight day on Monday, as investor funds shifted into the giant ones amid the start of the third quarter earnings season.

Quantum Computing Inc. (NASDAQ:QUBT) declined alongside its counterparts, namely Rigetti Computing Inc., IonQ Inc., and D-Wave Quantum Inc., suggesting that investor appetite for quantum computing stocks has tapered off and shifted to the country’s largest earners.

The quantum computing industry, on the other hand, remains a pre-profit sector despite rising valuations and government backing, relying mostly on a series of fundraising programs to ramp up business expansion.

For its part, Quantum Computing Inc. (NASDAQ:QUBT) recently raised $750 million in fresh funds from a private placement with institutional investors, covering more than 37.18 million shares.

Quantum Computing Inc. (NASDAQ:QUBT) said proceeds from the offer will be used to fund commercialization, pursue strategic acquisitions, establish volume production capabilities, expand sales and engineering personnel, as well as for working capital and other general corporate purposes.