Quantinuum looks expensive against its sales at $48.73. It trades at 101x sales and 38x next year's, while software companies usually get 5x. Fair value is $36.21 to $46.09, about 5x next year's sales give or take 12%, with a pullback level at $40.40. This is a levels-only view based on reported earnings and revenue estimates, with no fundamental work. x.com 

Quantinuum's valuation is a stretch after its IPO debut jump. More than $15 billion of market value rests on just $79 million in bookings, even as the quantum era approaches. x.com 

Quantinuum's market value relative to sales is not low, but against many poor-quality quantum names it made sense below $60. In this market, P/E and P/S valuations matter only so much: they drive stocks mainly in climates such as rate-hike cycles. Investors fixated on Nvidia being cheap at 21x earnings have missed moves in Marvell and Intel, while software multiples contracted despite claims of cheapness as the future grew less secure. x.com 

Quantinuum's IPO adds yet another ridiculously valued company to the quantum sector rather than changing its dynamics. Comparing these companies on technology or business model is like counting angels on a pin. Even Infleqtion trades at 100x revenue and loses a dollar for every dollar of revenue it makes. x.com 

The Shortlist targets companies it tags as pump-and-dumps, industry bubbles, constrained-float cases, potential fraud or overleveraged. Its Oct. 23 realistic-value estimates imply large downside, including 79% for ReAlloy, 53% for Critical Metals, 60% for Infleqtion and 62% for Quantinuum. x.com 

D-Wave Quantum's $5.2 billion valuation, or 325 times revenue, leaves substantial downside against just $1.50 per share in cash. The stock still has an estimated 80% downside. x.com 

IonQ is priced as a story, not a company: with annual revenue under $50 million, its valuation bets on the most optimistic version of quantum computing a decade from now. The market now rewards narrative over earnings and punishes a single missed quarter. That can last a long time when liquidity is ample and risk appetite high, as dot-com stocks in 1999 and SPACs in 2021 showed, so a drop is not imminent. Buyers chasing it are buying how long sentiment lasts, not company value. x.com 

IonQ trades at a trailing P/E of 665 while its real delivery is around 2030, so expect two mega crashes before then. It remains the strongest and most logical quantum computing company in the world, worth buying after those crashes for those who can resist FOMO. A reply notes the trailing P/E says little and forward figures matter more. x.com  x.com 

D-Wave Quantum is pure science fiction with limited application space, and the market will eventually push it below $1. It carries a $6B market cap with no revenue, products or working technology. x.com 

Honeywell's Quantinuum stake is very underpriced when weaker quantum names like Rigetti and Quantum Computing are bid up to multi-billion valuations. Quantinuum is the best asset in quantum and just raised at $10bn from Nvidia, yet Honeywell trades at 18 times earnings, with Elliott as activist and leverage to robotics over two to three years. Standalone quantum valuations may be wrong, but Honeywell has scarcity value as one of few institutionally investable quantum names besides IBM. x.com  … Show more