Since Google introduced its quantum computing chip Willow on December 9, 2024, it moved the interest of the market toward the field of quantum computing.

Ever since the related stocks experience an exploding rise to the next 10 days. Experts call quantum computing as the next major technology hype following artificial intelligence.

And on Thursday, December 19, 2024, the market decided to take a break, pause the stellar rise of the quantum stocks, dragging them to a pullback.

Thursday took a massive toll on the quantum computing stocks where Rigetti Computing Inc ( NASDAQ:RGTI ) fell to 30.12%, Quantum Corp ( NASDAQ:QMCO ) reduced to 39.97% while Quantum Computing Inc ( NASDAQ:QUBT ) tumbled by 41.04% and D-Wave Quantum ( NYSE:QBTS ) declined by 28.91%.

Despite the loss yesterday, on a year-to-date basis, these companies have made remarkable improvement. Rigetti Computing has grown by 700%; Quantum Computing has grown by 1500%; D-Wave Quantum has grown by 650%; and Quantum Corporation has grown by 450%.

Investing.com believed that the dramatic drop yesterday in quantum stocks is due to the concerns to the overvaluations of the stocks.

Citron Research, an influential activist short seller, just gave a warning that heeded by investors regarding to quantum computing stocks. Citron highlighted that the R&D spending of these small caps quantum computing companies is too low and then Citron compared the stocks to tech giants like Google.

Citron commented "Small-cap quantum stocks are in a bubble, but $QUBT stands out as the most ridiculous. The numbers tell the story. R&D spending is THE critical indicator in this space: last quarter, $IONQ allocated $33M and $RGTI $12M, modest figures next to tech giants like Google. Yet $QUBT spent a mere $2M on R&Da striking mismatch for a company claiming to 'offer integrated high-performance quantum systems.' Let's not forget the issued equity at $2.50 just a month ago. The financials simply don't alignfollow the data."

The market seemed to agree and, after the comment, dragged down the quantum computing stocks to a minimum 30% pullback.

While quantum computing market holds large long-term growth prospects, the field is still emerging, and the prices of the stocks are already going much higher projecting the prospects far beyond the current real value.

And the uses of quantum computing for primarily commercial purposes are still vague as we haven't seen it to be part of our daily life yet unlike AI that has started to integrate impacting our day-to-day life.