Benzinga·2025-12-23 04:24Core Viewpoint - Citron Research emphasizes that Infleqtion has transitioned from a conceptual science project to a commercially viable entity, highlighting its partnership with Safran SA for GPS-independent timing solutions [2]. Company Analysis - Infleqtion is identified as a neutral atom quantum technology company that has gone public through a SPAC merger earlier this year, marking its shift to a commercially viable phase [2]. - Rigetti Computing Inc. is contrasted with Infleqtion, as it struggles to meet benchmarks set by DARPA, indicating a lag in its development compared to Infleqtion [3]. - The market capitalization of Rigetti is noted at $7.84 billion, while Infleqtion's market cap is just over $720 million, with expectations that their valuations will converge by early 2026 [4]. Investment Strategy - Citron has adopted a long position on Infleqtion while shorting Rigetti, aiming to capitalize on the divergence in their valuations, as the market has not yet recognized the execution gap between the two companies [5]. - Since the initiation of this trade, Rigetti has seen a decline of 35.50%, while Infleqtion has only decreased by 1.68%, amidst broader skepticism in the quantum computing sector [6]. Market Performance - On a recent trading day, Infleqtion's shares rose by 13.50% to close at $15.72, while Rigetti's shares increased by 13.24% to $26.90, reflecting a positive trend in quantum stocks [7]. - The year 2025 has been successful for quantum stocks, with analysts and investors anticipating continued momentum into the new year [8]. - Year-to-date performance for quantum stocks shows Infleqtion up 53.82%, while Rigetti is up 34.53%, indicating strong performance relative to the sector [9].