Quantum stocks drop by double digits ahead of IonQ earnings
At 1:15 p.m. Eastern on November 5, four quantum stocks were down 12.02% to 14.16%. The declines outpaced both SPY and QQQ, with IonQ’s quarterly results still ahead.
Reading tools for text size, copying, printing and your reading list
Quantum computing shares fell by double digits on Thursday, November 5, as a broad technology selloff put pressure on companies whose commercial prospects remain closely watched. Around 1:15 p.m. Eastern, IonQ was down 12.02%, Rigetti Computing 13.74%, D-Wave Quantum 14.16% and Quantum Computing Inc. 13.53%, in a market-data snapshot spanning 25 seconds. The trading session was still open.[1]
IonQ's third-quarter results were scheduled for after the close, followed by a 4:30 p.m. Eastern call. The decline captured here came before that scheduled release. It cannot be described as investors reacting to the evening's earnings.[2]
The quantum losses were larger than the market comparison
In the same minute, SPY, an exchange-traded fund tracking the S&P 500, was down 3.77%. QQQ, which tracks the Nasdaq-100, was down 5.64%. These are fund returns; QQQ is not the Nasdaq Composite. The four quantum stocks' declines exceeded QQQ's by about 6.38 to 8.52 percentage points. That comparison describes the size of the moves, not their cause.[1]
Four quantum stocks and two market trackers
| Security | Price (USD) | Change | Trade (UTC) |
|---|---|---|---|
| IONQIonQ | $25.99 | −12.02% | |
| RGTIRigetti Computing | $9.67 | −13.74% | |
| QBTSD-Wave Quantum | $8.91 | −14.16% | |
| QUBTQuantum Computing Inc. | $5.56 | −13.53% | |
| SPYState Street SPDR S&P 500 ETF Trust | $737.88 | −3.77% | |
| QQQInvesco QQQ | $652.94 | −5.64% |
Change is measured from the November 4 regular-session close. The last trades span 1:15:13 to 1:15:38 p.m. EST (18:15:13 to 18:15:38 UTC), while the market was open. SPY tracks the S&P 500 and QQQ tracks the Nasdaq-100.
QubitWire recorded these observations from an intraday price feed. The feed did not identify its original provider, and the observations were not independently matched to exchange records. Download the six quotes and prior closes (JSON).
Prices are in U.S. dollars. The six last trades occurred between 1:15:13 and 1:15:38 p.m. Eastern on November 5, 2026. Percentage changes use each security’s November 4 regular-session closing price. The table records an intraday observation, with 25 seconds separating the earliest and latest trade.[1]
Reuters and the Associated Press separately described a wider retreat in technology and AI-related shares. Their reporting discussed concern about the cost and pace of data-center expansion and the returns from AI investment. That is relevant market context, but it does not establish why each quantum shareholder sold.[3][4]
What a falling share price can tell you
The immediate impact on shareholders is visible: the quoted value of their holdings fell. The snapshot does not show that the companies' machines became less capable that morning, or establish an equivalent deterioration in their underlying businesses.
A plausible financial mechanism is a change in what investors will pay for commercial returns expected farther in the future. If confidence in ambitious technology investment weakens, uncertain future earnings can command a lower price today. This is an interpretation, not a measured explanation of the orders behind Thursday's moves.
The implications for the companies depend on what happens next. A sustained lower share price could make raising a given amount through new equity more dilutive, because more shares would be required. That is a conditional financing mechanism, not evidence that any of the four announced a new share sale during this session. Cash already held, spending commitments and other funding options also matter.
Earnings provide the next company-specific test
After IonQ's scheduled Thursday release, Quantum Computing Inc. plans to report on Monday, November 9, after the close. D-Wave plans to report before the open on Tuesday, November 10; Rigetti follows after that day's close. Their scheduled calls are 4:30 p.m., 8 a.m. and 5 p.m. Eastern respectively.[5][6][7]
Those disclosures should be read company by company. Start with recognized revenue and the work that produced it. If management highlights bookings or backlog, check the definition and expected delivery period: an announced commitment is not automatically revenue already recorded.
Next, read cash balances alongside operating cash use, planned investment and changes in the share count. A hardware milestone and a customer order answer different questions; neither alone explains the complete commercial picture.
QubitWire's October 30 selloff report covered an earlier session. The new information here is Thursday's dated price comparison and its timing immediately before the next earnings stretch. The practical question is whether subsequent company evidence changes the picture suggested by the falling prices.[8]
At this snapshot, the sector was taking a larger hit than the market trackers. The earnings releases were the next scheduled opportunity to compare that shift in sentiment with fresh company disclosures.