Shares of Quantum Computing Inc. (NASDAQ:QUBT) stock and D-Wave Quantum (NYSE:QBTS) stock are both up 12% in Monday morning trading, leading a broad rally across the handful of publicly traded quantum-computing pure plays. QUBT stock is changing hands near $11.10, while QBTS stock has climbed to around $26.14.
Rigetti Computing (NASDAQ:RGTI) stock is up 9% to around $22.92, and IonQ (NYSE:IONQ | IONQ Price Prediction) stock has gained 6% to around $61.51. The four names are once again trading in lockstep as a thematic basket.
There’s no identified company-specific catalyst behind the move in QUBT, QBTS, RGTI, or IONQ stock. The likely backdrop is a broad risk-on tone following the U.S.-Iran peace agreement announced Sunday, with a formal signing referenced for June 19, which has lifted speculative, high-beta names across the tape.
Risk-On Tape, Not a Quantum-Specific Story
The CBOE Volatility Index (VIX) dropped Monday morning to 16.24, well below the recent intraday peak of 22.22 on June 10 and far off the March 27 high of 31.05. That volatility contraction has been supportive for the most speculative corners of the market, and quantum-computing names like IonQ and Rigetti sit squarely in that bucket.
The S&P 500 tracking SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 1.67% in Monday’s session, providing a benign macro tape. Against that backdrop, the quantum basket including QUBT and QBTS stock is outperforming on relative beta rather than any fresh sector news.
Speculative Names Snapping Back
Quantum Computing Inc. has been the laggard of the group, with QUBT stock down 34% over the past year. The company posted Q1 2026 revenue of $3.69 million, lifted by its February Luminar Semiconductor and NuCrypt acquisitions, with about $1.4 billion in total cash and investments on the balance sheet.
In contrast, D-Wave Quantum stock is up 72% over the past 12 months. The company reported Q1 2026 bookings of $33.4 million, ended the quarter with $588.4 million in cash, and held an Investor Day at the NYSE on June 1 highlighting a gate-model roadmap targeting 100 logical qubits by 2032.
Rigetti Computing stock is up 101% over the past year, with Q1 2026 revenue of $4.4 million, nearly triple the prior-year period, and a narrowed loss per share of $0.04. Its 108-qubit Cepheus-1-108Q system is in general availability on AWS Braket, Azure Quantum, and qBraid, and management has flagged a UK investment of up to $100 million for a 1,000-plus qubit machine.
Meanwhile, IonQ stock has been a steady performer, up 63% over the past year, with Q1 2026 revenue of $64.67 million and raised FY2026 guidance of $260 million to $270 million. At a market cap near $23 billion and a price-to-sales ratio of 115x, IonQ trades on expectations rather than current cash flow.
Sentiment Skew Across the Group
Analyst sentiment on the basket is uneven. IonQ carries 1 Strong Buy, 10 Buy, and 2 Hold ratings with an average price target of $67.64, while Rigetti has 1 Strong Buy, 8 Buy, 3 Hold, and 1 Sell with a $29.24 target.
Turning to crowd sentiment, one Polymarket question asks whether the U.S. federal government will take a stake in IonQ by year-end, with the “No” outcome priced at 65% and “Yes” at 36%. It’s a thin market, but it captures how some traders are framing IonQ’s strategic profile versus peers like Rigetti and D-Wave Quantum.
What to Watch Now
Investors can watch for whether the bid in Quantum Computing Inc., D-Wave Quantum, Rigetti, and IonQ stock holds into the closing bell, or whether the basket fades as an intraday momentum trade. Volume and breadth in the broader speculative complex can offer early clues on staying power.
IonQ, Rigetti, D-Wave Quantum, and Quantum Computing Inc. remain pre-profit, high-beta names that tend to move together on shifts in risk appetite. With no quantum-specific catalyst behind today’s rally, the action looks more like sentiment than substance, which argues for measured position sizing for anyone trading around the move.
The next checkpoint for the basket may come from the formal U.S.-Iran signing referenced for June 19 and any fresh sector commentary. Until then, IonQ stock, as the largest market cap in the group, could set the tone for QUBT, QBTS, and RGTI shares.
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