Citron recommended that investors should own three Churchill Corp shares for every single Rigetti stock they own.
Special purpose acquisition company (SPAC) Churchill Capital Corp X (CCCX) shares were up over 4% in early premarket trading on Wednesday, poised to extend their winning streak to six sessions. The optimism over the shell company’s impending merger with the privately held quantum computing company Infleqtion has increased retail traders’ interest in Churchill Capital stock.
The stock jumped 14% on Tuesday after Andrew Left’s Citron Research said the company is undervalued. Comparing Infleqtion with Rigetti (RGTI), the firm stated that the former actually sells quantum hardware, sensors, and atomic clocks, whereas the latter remains an underfunded science project.
If both companies shared the same market capitalization, Churchill Capital should be trading at over $60, Citron said. Notwithstanding the stock’s 80% rally seen since Sept. 8, when it announced its plan to merge with Infleqtion, it still traded at $18.23.
Citron said, “Most investors don’t realize Infleqtion already has real defense and aerospace contracts — with DARPA and the Air Force Research Lab — and is shipping deployable quantum systems today. Rigetti isn’t close to that.” The firm recommended that investors should own three Churchill Corp shares for every single Rigetti stock they own.
In the press statement announcing the SPAC deal, Churchill Capital stated in early September that Infleqtion has real-world deployments in computing and precision sensing and is poised to accelerate its scale. It touted that Infleqtion’s clientele included Nvidia, the U.S. Department of Defense and NASA, among others.
To date, Infleqtion has sold three quantum computers and hundreds of quantum sensors, generating approximately $29 million in trailing twelve-month revenue as of June 30, 2025. The company expects roughly $50 million of booked and awarded business at year-end 2025, and has identified a potential customer pipeline exceeding $300 million.
On Stocktwits, retail sentiment toward Churchill Capital stock improved further into the ‘extremely bullish’ territory by early Wednesday, and the message volume on the stream also remained ‘extremely high.’
A bullish user expected the stock to open at $ 20 or higher amid the ongoing momentum.
Another user, who identified themselves as one on the bullish camp, wondered whether it was too late to get into the stock and also whether it is a good long-term hold.
Quantum computing stocks have been on a tear this year, having picked up from where they left off in late 2024, as investors are sold on the promise held by these companies. The Defiance Quantum ETF (QTUM) has gained nearly 38% year-to-date, outperforming the broader market and the tech sector.
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