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In this high-stakes game, there exists a pattern reminiscent of a “pump and dump” scheme, where early investors, having initially bought in at lower valuations, cultivate positive hype around the company to inflate share prices. Once the stock appreciates significantly, these investors sell their positions and realize profits, leaving regular investors at a loss as stock prices plummet.
The echo of this strategy resonates across many quantum computing companies, which have gone public through SPACs, including IonQ, D-Wave, and Rigetti. As shareholder interest dissipates, the risk of collapse looms large for these companies, particularly if they cannot transition from speculation to tangible revenue.