Quantum Leap

The U.S. Department of Energy sends our quantum stocks soaring.

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.