Hedge fund manager Jackson, known for sparking a rally in Opendoor stock, said BTQ shares could rise 1,000% in two to three years.
BTQ Technologies Corp’s stock soared 51.5% on Tuesday, its best session since listing last month, and extended gains after-hours as hedge fund manager Eric Jackson disclosed a long position and posted upbeat commentary.
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The rally in the quantum computing company’s shares also came as researchers in the field — Michel Devoret, a Google Quantum AI chief scientist, John Martinis, a former Google quantum computer scientist, and John Clarke — won this year’s Nobel Prize in Physics. The award renews attention on quantum computing, a field long rooted in academia but now steadily advancing toward real-world applications.
“We are still in the early innings of quantum finally getting the funding it deserves,” Jackson said in an X post on Tuesday.
“BTQ (I’m long) plays at the heart of quantum and the entire digital financial asset system; it still should be worth 4x as much as it is to = QUBT,” he said, referring to Quantum Computing Inc., another player in the space.
In a follow-up post, Jackson called BTQ stock a “1000-bagger” in two to three years, forecasting it to rise to “$215/share vs. ~$11 today.”
“I bought more this morning… If you think quantum is the next phase of AI → start looking at $BTQ,” he said.
Jackson, founder of Toronto, Canada-based hedge fund EMJ Capital, rose to prominence recently after his bullish commentary sparked an impressive rally in shares of Opendoor Technologies, an online real estate platform. He is also known to have led activist campaigns at Yahoo and Viacom a decade ago.
Founded in March 2021, BTQ specializes in the development of post-quantum encryption and blockchain industry applications. Shares of the peer quantum company, Quantum eMotion Corp, also jumped, rising 25%, on Tuesday.
On Stocktwits, the retail sentiment for BTQ shifted to ‘extremely bullish’ as of late Tuesday, from ‘bullish’ the previous day.
“$BTQ keeping my shares and buying $QNCCF tomorrow. Let’s get this,” a user posted.
Another user said BTQ’s unique selling point was “pretty straightforward” as it is trying to build a “vertically integrated stack (think software, hardware, and real-world use cases)” in quantum computing when most others are developing “isolated cryptographic modules.”
“That scope is ambitious, but the groundwork is there. And in a pre-revenue company, that kind of early focus actually matters,” they added.
BTW stock is up 85.2% since its Nasdaq debut on Sept. 22.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
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