The stock has garnered significant retail attention in recent days following the firm’s announcement of a shift in focus to high-performance computing tailored for the cryptocurrency space.
Q/C Technologies, Inc. (QCLS) stock surged 15% in the premarket session and became the top trending ticker among equities on Stocktwits on Friday morning. The stock is on its way toward the $6 mark, last seen in August this year.
The stock has garnered significant retail attention in recent days following the firm’s announcement of a shift in focus to high-performance computing tailored for the cryptocurrency space. Momentum around quantum computing, triggered by recent advancements in both quantum hardware and software, along with efforts to build more powerful quantum machines, also helped build interest around the stock.
Formerly known as TNF Pharmaceuticals Inc., the company changed its name to Q/C Technologies to reflect its focus towards quantum-class computing, catering to crypto and blockchain applications.
Retail sentiment around Q/C Technologies’ stock jumped to ‘extremely bullish’ from ‘neutral’ territory the previous day. Message volume improved to ‘extremely high’ from ‘low’ levels in 24 hours.
On September 24, the company stated that it secured exclusive worldwide rights to a laser-based processor developed by LightSolver. This light-speed laser processing unit (LPU) boosts computing by leveraging the speed and efficiency of photons over traditional semiconductor methods.
LightSolver’s LPU is said to reduce power usage by up to 90% while outperforming current graphics processing units (GPUs) and quantum computing platforms in both speed and reliability. In addition to performance improvements, the system provides enhanced security for blockchain networks, a feature of growing importance for decentralized finance and cryptocurrency protocols.
Q/C Technologies’ stock has lost over 96% in the last 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<