PSQL · Pasqal Holding SA

IONQ

IonQ, Inc.

Broken gov-capital quantum leg, now publicly capitulated: seven-plus down weeks, an inverse-ETF complex up to +108%, and Cramer warning it off air on 2026-07-23. Washed out but not based, heading into a binary Q2 print (est. 2026-08-05 to 08-12) that referees the disputed Pentagon-revenue composition. No edge in a fresh long at current levels.

QBTS

D-Wave Quantum Inc.

Three named enterprise agreements (AT&T 07-27, Verafin 08-03, DOCOMO 08-18) never held a bid; the 2026-08-25 CFO notice and a sector-wide rate move on 2026-09-01 took the shares to $16.54, just above the 2026-07-29 low of $16.18. Nothing company-dated sits between the 2026-09-02 handover and the ~2026-11-05 Q3 print, leaving a dead narrative trading on yields and short-interest mechanics.

QUBT

Quantum Computing Inc.

The 2026-08-31 one-cent reclaim of the $8.22 July shelf failed inside one session: 2026-09-01 closed $7.90, down 4.01%, with the 50-day at $8.60 and the 200-day at $9.55 both descending and overhead. The 2026-09-10 Lake Street appearance is attendance rather than disclosure and nothing revenue-bearing lands before Q3 around 2026-11-10, leaving a saturated narrative under a broken shelf against a 31.94% short float.

RGTI

Rigetti Computing, Inc.

Quantum pure-play basket is in outright hype-cycle deflation: RGTI ~$14.19 (2026-07-17), -27% MoM, and the $14 shelf that held the May CHIPS-stake gap and the June executive-order pop has broken. Inverse quantum ETFs printing +108% and the Quantinuum IPO landing into the tape mark late-cycle supply. No company binary until the Q2 print ~2026-08-10. Nothing in the structure supports a fresh entry here.