Quantinuum QNT - IPO opened at $68, fell below $60 IPO price on day two. Is it a buy?

[GhostRider89]

Quantinuum (Nasdaq: QNT) had a troubled first week as a public company. The IPO priced at $60 on June 3, well above the original $53-55 range. Shares opened at $68 on day one but ended nearly flat at $62. On day two, amid the broader Friday June 5 tech selloff triggered by Broadcom, QNT fell below its $60 IPO price. The company went public with some alarming fundamentals: Q1 2026 revenue of $5.2 million versus $19.1 million a year earlier (down 73%), net loss of $136.6 million versus $30.5 million a year before, and quarterly bookings of $1.3 million versus $1.9 million. Accumulated deficit stands at $881.4 million.

The bull case: $100 million Commerce Department funding secured, JPMorgan and Amgen as named customers, full-stack hardware and software platform, Honeywell as majority parent and anchor partner, $1.68 billion raised giving a long cash runway.

Quantinuum (QNT) Stock Price & Overview

https://stockanalysis.com/stocks/qnt/

[Skibidi]

The revenue going from $19.1 million to $5.2 million year over year is not a rounding error - that is a 73% collapse in one quarter. For a company that just raised $1.68 billion at a $15 billion market cap, that number needs a very convincing explanation before anyone adds to a position

[HollowSentinel]

I'll buy at $20