Is Infleqtion (INFQ) Stock Worth Buying After the NASA Contract News?
TLDR
- Infleqtion (INFQ) rose more than 3.5% in premarket trading Thursday after securing a $20M NASA follow-on contract
- The contract covers continued development of the Quantum Gravity Gradiometer Pathfinder, led by NASA JPL
- NASA’s total commitment to the program now stands at $40M
- The Pathfinder aims to fly the world’s first space-based quantum gravity sensor
- Despite the contract news, the stock gave back gains and slipped during the session, with investors cautious about the lack of near-term commercial revenue
Infleqtion (INFQ) jumped more than 3.5% in premarket trading Thursday after the quantum computing firm announced a $20M follow-on contract from NASA. The stock was up 5.69% at one point during the session before pulling back.
The contract is for continued development of the Quantum Gravity Gradiometer Pathfinder, a program led by NASA’s Jet Propulsion Laboratory. With this latest award, NASA’s total funding commitment to the project reaches $40M.
The Pathfinder mission is designed to fly the world’s first space-based quantum gravity sensor, which would change how Earth’s surface gravity is measured from orbit.
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