Shares of Churchill Capital Corp X (NASDAQ:CCCX) climbed 11% on Monday after Citron Research spotlighted the SPAC as a promising investment opportunity in the quantum computing space.
The research firm described CCCX as “the MOST compelling trade in quantum,” recommending investors buy it against any position in Rigetti Computing (NASDAQ:RGTI). Citron added that Infleqtion, the quantum technology firm planning to merge with CCCX, is “far ahead of Rigetti in the Quantum race” and projected that the two stocks would “trade at parity quickly before CCCX eventually commands a premium.”
Citron also shared a valuation comparison between the two companies, outlining potential share prices across different market capitalizations. At present, Rigetti trades around $40 per share.
Monday’s rally builds on momentum from September 8, when CCCX announced plans to merge with Infleqtion, a company specializing in neutral atom-based quantum technologies. Following the merger, the combined business will operate under the Infleqtion name and is expected to list on a North American exchange under the ticker “INFQ.”
Churchill Capital Corp X stock price
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