Squawk on the Street Quantum Stocks Take a Hit, Palantir's Pullback, California Wildfires 01/08/25
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Jan 8, 2025 Quantum computing stocks are experiencing a significant drop after comments from Nvidia's CEO at CES, despite some still soaring over 1,000% in the past year. Palantir continues its downward trend post-record highs. Meanwhile, California wildfires are forcing thousands to evacuate, disrupting lives and impacting market reactions. The discussion also covers rising inflation, interest rates, and notable downgrades of major companies, highlighting the tensions and dynamics currently shaping the financial landscape.
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Quantum Computing Stock Plunge
- Quantum computing stocks are plummeting after NVIDIA CEO Jensen Huang's comments at CES.
- Huang suggested useful quantum computers are still 15-30 years away.
Investment Due Diligence
- Investors should scrutinize companies before investing, especially those with low revenues and high losses.
- Rigetti's recent stock offering at $2.11 highlights this risk.
Palantir's Decline
- Palantir, despite its strong rule of 40, is experiencing a pullback from record highs.
- Kathy Wood's ARK Invest has been aggressively selling Palantir.