Iceberg Research short Quantum, says foundry biz will ‘amount to nothing’

In a recently published report, Iceberg Research said it is reinitiating Quantum Computing (QUBT) short. “The perma-scam was recently revived on the back of two press releases that helped the company raise $40m in a registered direct offering,” Iceberg says, adding that it has “convincing evidence” that these PRs are “based on nothing more than sand.” “QUBT has built for itself a track record of chasing the latest tech fads to pump its stock,” the report reads. “We believe the foundry business will amount to nothing. The foundry is apparently non-existent. The pattern is clear: QUBT thrives on pumps and dumps but delivers little of substance. All this time, the company has gone from one hype to another, only to time and again fail to deliver on its promises.”