Remember Andrew Left? The guy who made GameStop bros cry back in 2021? Well, he’s back with another hot take, and this time he’s got quantum computing stocks in his crosshairs.
While everyone’s losing their minds over quantum stocks (Rigetti Computing up 78%, D-Wave Quantum up 214% this year), Left is over here like “hold my beer” and shorting the whole party. And honestly? His reasoning might make you think twice before FOMOing into the quantum craze.
Here’s the thing about quantum computing that nobody wants to talk about: it’s stupidly expensive to develop, takes forever, and requires the kind of talent that Google can poach with their lunch money. Left learned this the hard way after actually meeting with Rigetti’s management team.
“The commercialization of it was like the most uncertain thing you ever heard of,” Left said about his chat with Rigetti folks. Translation: they had no clue when (or if) they’d actually make money from this sci-fi tech.
But wait, there’s more! Left noticed something interesting in the fine print – Rigetti insiders have been dumping their shares faster than you can say “quantum entanglement.” When the people running the company are heading for the exits, that’s usually not a great sign for retail investors still buying the dip.
The real kicker? Google just dropped some major quantum breakthroughs that make smaller players like Rigetti look like they’re bringing a calculator to a supercomputer fight. When you’re competing against Alphabet’s infinite R&D budget, good luck with that.
Now, Left isn’t completely anti-quantum. He’s actually bullish on one company: Infleqtion (through Churchill Capital Corp). Why? Because instead of trying to out-Google Google, they’re playing the smart game – building quantum tech that works WITH Nvidia’s ecosystem. It’s like being the guy who sells shovels during a gold rush instead of digging for gold yourself.
“Infleqtion has customers, revenue, and NVIDIA validation. Rigetti has dilution and press releases,” Left wrote on X. Ouch. That’s the kind of burn that leaves marks.
The best part? Some people think Trump might bail out quantum companies with government money. Left’s response was basically “lol, no.” As he put it: “Donald Trump’s not taking US money and bailing out CEOs that sell stock.” Fair point.
Look, quantum computing is probably the future. But “probably” and “profitable investment right now” are two very different things. Left’s bet is that most of these companies are burning cash faster than they’re making progress, and the market hasn’t figured that out yet.
So before you mortgage your house to buy quantum stocks because some YouTuber said they’re “going to the moon,” maybe consider that one of the most successful short-sellers in history thinks this whole sector is overcooked. Just saying.