Quantum News Nexus

Honeywell-backed Quantinuum had its long-awaited IPO today, as 28 million shares of its Class A common stock began trading (NSDQ: QNT) at a starting price of $60 per share

That represents a upsizing from an earlier price range of between $53 and $55 per share for about 26.5 million shares, which itself was an upsizing from a previous starting point of around $50 per share. Well, if you have witnessed how quantum stocks have been bubbling up since the US government’s $2 billion funding announcement, you can’t blame Quantinuum for revising upward.

From what I can tell, the stock reached a high of $67.98 and eventually closed at $60.38. What to make of this I’m not sure. Most quantum stocks were down on the day as the recent broader tech and AI stock boom seemed to deflate a little on some lousy earnings news from Broadcom.

In any case, while there wasn’t a huge move up or down for QNT today, Quantinuum did okay, as this IPO is expected to raise about $1.68 billion and achieve a $15 billion market capitalization for the company. That makes it the largest IPO in quantum sector history, although every other quantum firm that has gone public so far has done so through a SPAC merger rather than a traditional IPO. Still, have yourself a day, Quantinuum.

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