Quantinuum float is 10% of shares with a 180 day expiry so today’s valuation is going to be very volatile
today quantinuum has surpassed IONQs market cap. For IONQ longs I think hold fast as it’s not as big of a deal when you consider their revenue and float
the current lockup has constrained tradable shares by 90% so what we’re seeing is driven by investors chasing a limited resource.
short percent of float is already at 10% and could hit A MUCH HIGHER number by December as people play the liquidity exit. while Helios is an amazing system it doesn’t hit the mark for it being profitable to use, at 98 qubits its still a science project. ibm has 156 qubits with heron r3 that runs thousands of shots for circuits in minutes versus hours on Helios.
more importantly quantinuum needs to solve integrated photonics for FTQC scaling which monarch and sky water haven’t yet .
in December the lockup expires and they start to join ETFs. if you’re investing in QNT be aware of this. If you’re comparing IONQ market cap be aware of this too because the true valuation will be very volatile until honeywell and other shareholders release the float