Advancing Quantum Technologies In Space
The big news today in the quantum computing space is that the U.S. Department of Energy has signed a memorandum of understanding with IonQ (IONQ 0.00%↑) to “advance quantum technologies in space”. I have no idea what that means, but it reminds me of the lyric from “Black Sheep”:
Got real estate, I’m buying it all up in outer space
What I do know, is this news sent our quantum stocks higher.
Earlier this week, I wrote that we had missed a recent move in IONQ.
My mistake: I forgot we already have an open trade in it from July:
That trade is on pace for a max gain now, though to be conservative, I’ll probably settle for a little less on it.
And the quantum stock we opened a trade on this Monday, D-Wave Quantum (QBTS 0.00%↑), was up nearly 19% today, presumably, in sympathy with IONQ.
The salient point is that we entered both positions because the stocks were Portfolio Armor top names, and that’s been a solid source of alpha.
