Market Signal Briefing

RV Capital AG disclosed the sale of 50,653 shares of Interactive Brokers Group, estimated at ~$3.19 million based on the quarterly average price, in its October 22, 2025 SEC filing for Q3 2025.

What happenedAccording to an SEC filing dated October 22, 2025, RV Capital reduced its stake in Interactive Brokers Group (IBKR +2.35%) by 50,653 shares during the quarter.

The estimated transaction value was approximately $3.19 million, based on the period’s average closing price.

After this sale, the fund’s remaining position was 799,267 shares, valued at $54,997,562 as of September 30, 2025.

What else to knowRV Capital’s move was a partial sale; Interactive Brokers Group now represents 10.1% of reported AUM as of September 30, 2025.

Top holdings after the filing:

Carvana: $167.97 million (30.8% of AUM)Meta Platforms: $102.60 million (18.8% of AUM)Credit Acceptance Corp: $60.90 million (11.1% of AUM)Wix.com: $55.95 million (10.2% of AUM)Interactive Brokers: $55 million (10.1% of AUM)As of October 21, 2025, shares of Interactive Brokers Group were priced at $66.27, outperforming the S&P 500 by 64 percentage points.

Company OverviewMetricValueRevenue (TTM)$5.95 billionNet Income (TTM)$917.00 millionDividend Yield0.40%Price (as of market close 2025-10-21)$66.27Company SnapshotInteractive Brokers offers electronic brokerage services for stocks, options, futures, forex, bonds, mutual funds, ETFs, precious metals, and cryptocurrencies.

It serves institutional clients—including hedge funds, proprietary trading groups, introducing brokers, and registered investment advisors—as well as individual investors globally.

The company operates a global trading platform with access to over 150 markets in multiple countries and currencies.

Interactive Brokers Group is a leading automated electronic broker with a global presence, providing a broad range of trading and investment products across multiple asset classes.

Its scalable platform and diversified service offering position it as a competitive force in the electronic brokerage industry.

Foolish takeRV Capital's sale of Interactive Brokers in the third quarter is definitely something investors shouldn't panic about.

Not only was the sale relatively minor, but Interactive Brokers remains the firm's fifth-largest holding. In fact, despite RV Capital selling roughly one-third of its Interactive Brokers shares over the last two years, the stock's portfolio allocation grew from 8% to 10%.

As odd as this sounds, it is due to the fact that the stock more than tripled over the just the last two years as the company continues to grow sales and earnings by double-digit rates while adding new customers at an incredible clip.

Home to a long list of awards of recognitions such as the best platform for trading professionals, best platform for option traders, and best broker for international trades, Interactive Brokers has become a staple of the investment landscape.

Despite the stock's incredible run over the last two years, its price-to-earnings ratio is only up to 33. While this is higher than its historical averages, it isn't outrageous for a business that just grew customer accounts and customer equity by 32% and 40% in the last quarter.

More than doubling the total returns of the S&P 500 since its IPO in 2007, the future remains bright for Interactive Brokers. However, in RV Capital's case, it made some sense to trim its already hefty position in the company.

Glossary13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC if they exceed a certain threshold.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm on behalf of clients.
Partial sale: Selling only a portion of a fund's position in a particular security, rather than the entire holding.
Stake: The amount of ownership or investment a fund or individual holds in a company.
Outperforming: Achieving a higher return or better performance compared to a specific benchmark or index.
Proprietary trading groups: Firms or teams that trade financial instruments using their own capital, rather than on behalf of clients.
Introducing brokers: Firms or individuals who refer clients to a brokerage, earning commissions but not directly handling client accounts.
Registered investment advisors (RIAs): Professionals or firms registered to provide investment advice and manage client portfolios for a fee.
Electronic brokerage: A brokerage that provides trading services primarily through online platforms, with minimal human intervention.
Asset classes: Categories of investments, such as stocks, bonds, commodities, or real estate, with similar characteristics.
Scalable platform: A technology system that can handle increased demand or growth without losing performance or reliability.
TTM: The 12-month period ending with the most recent quarterly report.

IonQ's quantum computing opportunity looks like a riskier bet than investing in tried-and-true AI companies.

Quantum computing could transform many industries -- including pharmaceutical discovery, materials science, artificial intelligence (AI), and cybersecurity -- as the technology becomes more efficient. Some experts believe quantum computing will be the next big technological wave, which is why startups like IonQ are getting a lot of attention from investors right now.

The company's quantum computers use trapped ions to perform computations, which could potentially offer more accurate and scalable solutions than other quantum hardware. But many estimates still put the real-world benefits of quantum computing years down the road.

As such, I think it's better for most investors to focus their attention on artificial intelligence opportunities right now, which still have many more years of potential growth. Here are two companies that will likely be better investments than IonQ stock in the coming years.

Image source: Getty Images.

1. Taiwan Semiconductor
Taiwan Semiconductor (TSM +1.46%) is the manufacturing workhorse behind nearly all of the world's most advanced semiconductors, including those for AI data centers. If you look under the hood of nearly any artificial intelligence server, the processors manufactured in it are likely made by Taiwan Semiconductor, also called TSMC.

The company has spent decades developing the most advanced semiconductor manufacturing plants, essentially leaving rivals like Samsung and Intel in the dust. Making advanced chips is no easy feat, and having the equipment to do so takes billions of dollars in investments, which has given TSMC an early lead that's propelled it to about 90% of the advanced processor market.

Fortunately, sales and earnings have followed. In the company's most recent third quarter results, revenue rose by 30% to $33.1 billion, and earnings increased 39% to $2.92 per American depositary receipt (ADR). TSMC's CEO, C.C. Wei, highlighted the company's confidence in its AI opportunity on the Q3 earnings call, saying, "We are still very comfortable that the demand for leading edge semiconductor is real."

To top it all off, TSMC's stock is relatively well-priced compared to many of its AI peers. The company's shares have a price-to-earnings ratio of 31.5, which is nearly on par with the average P/E ratio of 31 for the S&P 500 index and far lower than the tech sector's 47 average.

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2. Broadcom
Broadcom (AVGO +2.86%) is a leading designer of application-specific integrated circuits (ASICs) that are used in artificial intelligence and cloud computing systems, and it has become a leading choice for some AI companies' needs.

For example, ChatGPT creator OpenAI announced recently that it is partnering with Broadcom for 10 gigawatts' worth of AI accelerators by 2029. Broadcom will work with OpenAI to codevelop AI accelerators, and Broadcom will deploy AI server racks and networking systems.

The result could be billions of dollars in sales for the company, per WSJ, and it comes at a time when Broadcom's AI revenue is already booming. Management estimates that its artificial intelligence revenue will be $90 billion annually by 2027 -- a 650% increase from 2024.

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AI is the better long-term play
IonQ's bet on quantum computing could eventually pay off, but right now it's a pretty big gamble. The company had just $21 million in sales in the recent quarter, compared to its $178 million net loss. With most real-world applications of quantum computing still years down the road, investors are essentially placing a bet that IonQ will benefit from quantum computing before the industry has even taken shape.

Instead, investors are likely better off putting their money toward two leading artificial intelligence companies -- Taiwan Semiconductor and Broadcom -- that are already growing sales and earnings significantly and have a foothold in the AI market. While no investment outcome is guaranteed, these two companies are already established leaders and should continue benefiting from their early AI moves for years to come.

, /PRNewswire/ -- NetDragon Websoft Holdings Limited ("NetDragon" or "the Company"; Hong Kong Stock Code: 777), a global leader in building internet communities, is pleased to announce that it has signed a strategic Memorandum of Understanding ("MOU") with Open University Malaysia ("OUM") in Fuzhou, Changle. This collaboration marks a major step forward in integrating the strengths of both parties in open education and digital technology to explore how artificial intelligence (AI) and other emerging technologies can be applied more deeply in education, setting a new benchmark for the development of open and distance learning worldwide.

The signing ceremony was witnessed by Dr. Simon Leung, Vice Chairman of NetDragon, and Prof. Datin Dr. Santhi Raghavan, Vice President/Deputy Vice-Chancellor (Learner Experience and Technology) of OUM. The MOU was signed by Mr. Chen Hong, Senior Vice President of NetDragon, and Prof. Datuk Dr. Mohd Tajudin Md Ninggal, Vice President/Deputy Vice-Chancellor (Academic and Research) of OUM.

Under the MOU, both parties will adhere to the principle of mutual benefit and establish a forward-looking cooperation framework focused on the innovative application of AI and digital technologies in education. The collaboration will explore several strategic areas, including AI-driven digital content innovation, advanced technology certification and laboratory development, skills enhancement, and curriculum development, as well as the construction of a comprehensive digital education ecosystem. The two parties will jointly develop AI-driven digital teaching content and integrate intelligent learning analytics into OUM's Learning Management System (LMS), including a psychological wellness dashboard and AI-enhanced psychometric profiling system. These tools will enable accurate insights into learners' behaviors and emotions, supporting personalized learning interventions and improving teaching effectiveness. Meanwhile, the collaboration will also explore blockchain-based digital credentialing and micro-certification systems to ensure the security and credibility of academic qualifications, while planning to establish a joint "AI Research and Innovation Laboratory" that focuses on instructional design, gamified learning, and the ethical application of AI in education.

In addition, both parties will, in alignment with industry needs and lifelong learning objectives, jointly develop micro-credential courses and technical and vocational education and training (TVET) programs, and offer language certification services to enhance learners' employability. In terms of digital education ecosystem development, the collaboration will be carried out through OUM and its network of strategic partners to jointly advance the implementation of digital education initiatives, while also engaging in global policy dialogues and thought-leadership collaboration to help shape the future development model of open universities.

At the signing ceremony, Mr. Chen Hong, Senior Vice President of NetDragon, stated: "This strategic partnership with Open University Malaysia marks another important milestone for NetDragon to engage with global education institutions such as the United Nations Educational, Scientific and Cultural Organization (UNESCO). Together, we will accelerate the large-scale application of AI across diverse learning scenarios, injecting strong momentum into the development of a future education ecosystem."

Prof. Datuk Dr. Mohd Tajudin Md Ninggal, Vice President/Deputy Vice-Chancellor (Academic and Research) of OUM, remarked: "We firmly believe that this collaboration will reinforce our commitment to global higher education and further advance open, distance, and digital learning. It also marks an important step in driving the integration of digital education and AI, as well as in fostering innovative learning solutions."

During the media interview following the signing ceremony, Prof. Datin Dr. Santhi Raghavan, Vice President/Deputy Vice-Chancellor (Learner Experience and Technology) of OUM, said, "NetDragon's AI Content Factory and its approach to gamified learning have made a strong impression on us. As digital technologies are set to fundamentally reshape the education ecosystem, we hope that our collaboration with NetDragon will help OUM maintain its leadership in open education."

As a pioneer Chinese enterprise in the global expansion of education, NetDragon continues to expand its footprint across Belt and Road countries, with its education business reaching over 190 countries. Dr. Simon Leung, Vice Chairman of NetDragon, added: "Through this collaboration, NetDragon aims to develop a scalable and replicable 'AI + Open Education' model that can be flexibly adapted for partnerships with other countries in the future. By sharing our digital education philosophy, technological capabilities, and operational framework with more Belt and Road countries and local educational institutions, we look forward to building a more equitable, inclusive, and intelligent global education ecosystem together."

About NetDragon Websoft Holdings Limited  

NetDragon Websoft Holdings Limited (HKSE: 777) is a global leader in building internet communities, with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users. Over the desktop and mobile internet eras, NetDragon previously established China's first online gaming portal, 17173.com, and China's most influential smartphone app store platform, 91 Wireless.   

Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Conquer Online, Heroes Evolved and Under Oath. In the past 10 years, NetDragon has also achieved success with its EdTech business both domestically and globally. Fully embracing the new AI era, NetDragon is driving its vision of "Infinite Growth" through a dual-focus strategy of "AI+Gaming" and "AI+Education". With its AI Content Factory empowering operations and working with partners to develop a global learning metaverse, NetDragon is committed to once again building a massive user community in the new AI era.

NetDragon's overseas edtech business entity, currently a U.S.-listed subsidiary named Mynd.ai, is a global leader in interactive technology and its award-winning interactive displays and software can be found in more than 1 million learning and training spaces across 126 countries.   

About Open University Malaysia

Open University Malaysia (OUM) is Malaysia's first open university, with 35 learning centers across the country. It offers more than 60 online programs, serves around 40,000 students, and has a growing alumni network of more than 140,000 graduates. All of its programs are accredited by the Malaysian Qualifications Agency (MQA), with several also recognized by international organizations such as CPA Australia and the UK's Chartered Management Institute (CMI). With its 35 learning centers nationwide, OUM serves a diverse community that includes government officials, teachers, nurses, and entrepreneurs —remains committed to making lifelong learning accessible to all through a flexible, inclusive, and high-quality education model.

For investor enquiries, please contact:  
NetDragon Websoft Holdings Limited  
Email: [email protected]   

SOURCE NetDragon Websoft Holdings Limited

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Some quantum computing stocks have generated unimaginable returns over the past year.

A small group of quantum computing stocks has taken the market by storm. For instance, one of these stocks, like Rigetti Computing, is up over 2,880% over the past year. Even in this inflated stock market, returns like this are simply unheard of. But now, after such a big run, companies like Rigetti are inherently risky because they lack material revenue and earnings right now and are a pure bet on the commercialization of quantum computers.

If it happens, Rigetti shareholders will do well. If it doesn't, then who knows? For this reason, investors should tread carefully when approaching the pure-play quantum computing stocks. However, if they want exposure to the sector in a much more conservative manner, they can buy these two quantum computing stocks instead.

Image source: Getty Images.

Microsoft Majorana 1
For those who are unaware, quantum computing seeks to be the next evolution of the computer. While computers are built on bits, the smallest unit of digital information, quantum computers are built on qubits, which are in a state of superposition and can therefore compute solutions to problems simultaneously to come up with better answers to problems. They will also supposedly be able to solve more complex problems beyond what even some of the most powerful supercomputers are currently capable of. Of course, it's hard to tell how close the industry is to achieving the desired technology and eventual commercialization.

In February, Microsoft (MSFT +0.56%) unveiled its first-ever quantum computing chip, called Majorana 1. Interestingly, unlike some of its peers, the chip had eight topological qubits, which use indium arsenide, a semiconductor, and aluminum, a superconductor. Some researchers hailed Microsoft's chip as a breakthrough in the industry because the process with which Microsoft built its quantum chip makes it easier to prevent interference from noise, or errors, with the qubits, which is one of the main issues in the industry.

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Now, in gate-based quantum computing, the more qubits a quantum system has, the more powerful it can become, although it also becomes more prone to errors because it's hard for the qubits to maintain a state of stability. While the pure-play quantum computers have developed quantum systems with far more qubits, Microsoft said the chip it released is built to eventually fit 1 million qubits.

Of course, it is very difficult for the average investor to parse through available information on Majorana and make a call about how close the system is to achieving its desired state, let alone commercialization. But that's what's great about owning Microsoft. The company has so many other strong tech businesses that have made it one of the largest companies and stocks in the world. These include Microsoft's cloud business, artificial intelligence, gaming, social media, hardware, and its suite of office tools, devices, and hardware that powers the business world. Microsoft is also expected to be a prime beneficiary of the artificial intelligence revolution, so if quantum doesn't work out, that's OK.

Microsoft and other tech stocks trade at elevated valuations, driven by AI hype, so pullbacks are always possible. But in the long term, Microsoft certainly isn't going anywhere and will likely be a part of any tech or AI revolution down the road. It's also one of the only companies with a higher bond rating than that of the U.S. government.

Google's Willow
Google, which is owned by parent company Alphabet (GOOG +2.67%) (GOOGL +2.70%), released its latest quantum system, called Willow, at the end of 2024.

The system boasted an impressive 105 qubits. But perhaps the more impressive feat is Willow's ability to reduce its error rate as it scales qubits higher. At the time, researchers and scientists praised the error rates Google released to the public, but there was still skepticism regarding what real-world use cases Willow is capable of.

Very recently, Willow began to show more progress. Google, in a recently released research paper, said Willow ran an algorithm on its quantum computing chip that was able to detail the structure of a molecule, which could be key for further discoveries in the medical field. Furthermore, Willow performed this task 13,000 times faster than a classic supercomputer, according to Google, the first time any quantum system has run an algorithm more powerful than what supercomputers are capable of.

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Now, this doesn't mean quantum computers will be in every household tomorrow, or even years from now. But the more success quantum developers show, the more funding they are likely to get, which will help the sector advance.

Alphabet is another stock you can buy that will do just fine with or without quantum. While facing challenges from conversational chatbots like ChatGPT, Google is still the leader in the search space, and I suspect the company will fight hard to keep it this way. Alphabet also owns many other strong businesses with massive growth potential, like its autonomous driving business Waymo, YouTube, and Google Cloud, just to name a few. Like Microsoft, the company is also expected to benefit heavily from the AI boom.

Amplius Wealth Advisors, LLC disclosed the sale of 75,079 shares of the iShares Core S&P U.S. Growth ETF worth an estimated $11.8 million in its SEC filing for the period ended September 30.

What HappenedIn a U.S. Securities and Exchange Commission filing released Tuesday, Amplius Wealth Advisors reported selling 75,079 shares of the iShares Core S&P U.S. Growth ETF (IUSG +1.10%) for an estimated $11.8 million based on the average closing price for the third quarter. The fund’s remaining stake is 43,598 shares, valued at $7.2 million.

What Else to KnowTop holdings after the filing:

CBOE:AAAA: $234.5 million (20.3% of AUM)NYSEMKT:PVAL: $85.7 million (7.4% of AUM)NYSEMKT:RECS: $64.6 million (5.6% of AUM)NYSEMKT:TMFC: $63.6 million (5.5% of AUM)NYSEMKT:STIP: $48.5 million (4.2% of AUM)As of Friday, IUSG shares were priced at $167.39, up 24.5% over the past year, whereas the S&P 500 has climbed nearly 17%.

ETF OverviewMetricValueAUM$25.7 billionPrice (as of market close Friday)$167.39One-year total return26%Dividend yield0.5%ETF SnapshotIUSG invests at least 80% of assets in index components and economically similar securities.The ETF operates as a passively managed ETF designed for cost-efficient core U.S. equity growth exposure.It serves institutional and individual investors seeking diversified U.S. growth equity exposure.The iShares Core S&P U.S. Growth ETF (IUSG) provides investors with targeted exposure to U.S. growth equities by replicating a widely recognized benchmark. The fund emphasizes broad diversification in its strategy. Its scale and disciplined index approach support efficient access to key growth segments of the U.S. equity market.

Foolish TakeAmplius Wealth Advisors’ sale of iShares Core S&P U.S. Growth ETF shares this quarter appears to be part of a broader portfolio adjustment rather than a shift away from growth investing. Despite the sale, Amplius maintains significant exposure to IUSG through its flagship Amplius Aggressive Asset Allocation ETF (AAAA), which owns 108,245 shares of IUSG. AAAA is Amplius’ top holding, owning nearly 8.8 million shares.

The move came as Amplius trimmed several growth-oriented ETFs, including QQQ and ACWI, while adding to USTB, a short-term bond fund—signaling a cautious tilt toward balance after a strong equity rally. However, because AAAA also holds sizable positions in QQQ and ACWI, Amplius’ overall exposure to growth remains substantial, suggesting more of a risk recalibration than a retreat.

IUSG tracks the S&P 900 Growth Index and offers low-cost, diversified exposure to large- and mid-cap U.S. growth stocks. For long-term investors, Amplius’ strategy underscores the value of adjusting risk levels without abandoning core growth allocations—especially when valuations climb and interest rates stay elevated.

GlossaryETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.
Assets Under Management (AUM): The total market value of assets a fund or investment manager oversees on behalf of clients.
13F: A quarterly SEC filing required from institutional investment managers disclosing their equity holdings.
Alpha: A measure of an investment's performance relative to a benchmark, indicating outperformance or underperformance.
Dividend yield: The annual dividend income expressed as a percentage of the investment's current price.
Passively managed ETF: A fund that seeks to replicate the performance of a specific index rather than actively selecting investments.
Index components: The individual securities that make up a financial index tracked by a fund.
Core U.S. equity growth exposure: Investment focus on major U.S. companies expected to grow earnings faster than the market average.
Benchmark: A standard or index used to measure and compare investment performance.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
Stake: The amount of ownership or shares held in a particular investment.
Trading days: Days when financial markets are open for buying and selling securities.

The sell-off in Netflix stock is a buying opportunity.

Shares of Netflix (NFLX 1.70%) fell 10.1% on Wednesday after the company reported a surprise earnings miss due to an ongoing Brazilian tax dispute that resulted in an unexpected $619 million charge.

Consensus analyst estimates had guided for $6.97 in earnings per share; Netflix only delivered $5.87. But to its credit, revenue came in as expected.

At the time of this writing, the stock is down 17% from its 52-week high, and here's why the sell-off in Netflix is an impeccable buying opportunity for long-term growth investors.

Image source: Getty Images.

Know what game you are playing
When great companies sell off for nonrecurring reasons, I'm often reminded of my favorite chapter from Morgan Housel's book The Psychology of Money. In it, Housel discusses the importance of knowing what game you're playing, describing the stock market as a playing field where multiple games are being played simultaneously.

On this field, there are traders looking to make a quick buck. To them, a stock's price is more important than the business behind it.

Then, there are long-term investors who view the stock price as merely a reflection of sentiment in the moment. They are investing in the company for the long haul, perhaps three to five years, or maybe even decades. There are individual investors like you and me, and there are institutional investors with multibillion-dollar portfolios.

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These two forces act like a tug-of-war on the stock price. Over the long run, earnings drive stock prices. But in the short term, traders can have a big impact.

Traders who were riding Netflix higher and betting big on a perfect earnings report didn't get it. The company unexpectedly incurred hundreds of millions of dollars in losses from the Brazilian tax issue.

And that blind-side hit was so strong that it erased over $50 billion in market cap in a single session. But this sell-off has nothing to do with Netflix's investment thesis.

The making of a cash cow
Dig deeper into Netflix's results, and you'll find that the underlying business is stronger than ever.

Without the $619 million expense, Netflix would have exceeded its operating-margin guidance of 31.5%. Full-year revenue is expected to grow 16% year over year, and Netflix expects a full-year operating margin of 29% -- even when factoring in the Brazilian tax issue.

The company said it remains committed to growing revenue, operating margins, and free cash flow. As you can see in the following chart, Netflix has gone from inconsistently profitable to a high-margin cash cow.

NFLX Revenue (TTM) data by YCharts; TTM = trailing 12 months.

Netflix has perfected a formula for content creation, in terms of both quality and quantity. As a subscription business, the streamer must produce or license enough content and maintain an attractive existing library to keep subscribers engaged and to justify price increases. It has aggressively increased prices in recent years without dramatically affecting its subscriber base -- a testament to the value of its service.

Maximizing major hits
One ingredient of Netflix's secret sauce is undoubtedly its major hits. Netflix has such a high content budget that it can afford to take risks, swinging big and often striking out but also hitting some clutch walk-off home runs now and then.

In recent years, Stranger Things, Squid Game, and now KPop Demon Hunters are three good examples of somewhat unexpected hits. These aren't high-budget box office films with star-studded casts and gobs of marketing budgets. But they embody what makes Netflix unique.

Stranger Things originated in the U.S., and Squid Game was initially produced for a South Korean audience and later dubbed in multiple languages. KPop Demon Hunters is an animated film, not a series, which became Netflix's most successful film ever -- animated or live action.

The company is stretching its content further, in terms of franchise flywheels and global markets. The first four episodes of the fifth season of Stranger Things will be released on Nov. 26. Netflix has transformed one eight-episode season into nearly a decade of value creation.

Netflix just tapped Mattel and Hasbro for shared master toy licenses of KPop Demon Hunters. With global interest high, there's a runway for multiple sequels if Netflix chooses.

There are plenty of other examples of smash hits across categories, from reality TV shows to historic dramas and comedies. And despite being the undisputed global leader in streaming, Netflix remains a coiled spring for long-term growth.

In its third-quarter shareholder letter, management cited data that showed its share of TV time grew from 7.5% in the fourth quarter of 2022 to 8.6% in the third quarter of 2025 in the U.S.; in the U.K., it went from 7.7% to 9.4%.

In an industry still dominated by linear networks (i.e., cable), Netflix believes there's room to continue capturing market share by attracting audiences with different interests and expanding its content slate.

Play the long game
Netflix's content range and global distribution make it well positioned to sustain growth over the long term. The business is at the top of its game, and the stock sold off for reasons that may spook traders, but not long-term investors.

Now is the time to take a step back, tap into Housel's wisdom, and remember what game you're playing. If you're investing in Netflix for at least three to five years, this earnings report was a dream come true because it reaffirmed all the reasons it is a great company and gave investors a 10%-off coupon on the stock.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of QTUM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Setting new standards in responsible innovation, CSL's Broadmeadows facility blends Pharma 4.0™ principles with sustainable design to transform plasma manufacturing

, /PRNewswire/ -- CSL's base fractionation facility in Broadmeadows, Australia has been recognised as the Overall Winner of the 2025 Facility of the Year Award (FOYA) by the International Society for Pharmaceutical Engineering (ISPE).

Setting new standards in responsible innovation, CSL’s Broadmeadows facility blends Pharma 4.0™ principles with sustainable design to transform plasma manufacturing.

Purpose-built to optimise the production of plasma-derived therapies for conditions such as immunodeficiencies, neurological disorders, and burns, the Broadmeadows facility combines cutting-edge technologies with a pioneering hybrid manufacturing platform. Key features include advanced automation, real-time production monitoring, robotics, and digital twin infrastructure that enable flexible multi-process manufacturing, fully paperless execution and continuous improvement. Its modular design ensures scalability and long-term adaptability.

These advancements have increased plasma processing capacity nine-fold – enabling the facility to handle over 10 million litres annually – while boosting efficiency and yield, which enables CSL to impact the lives of more patients globally.

"This prestigious award underscores CSL's unwavering commitment to innovation, operational excellence, and sustainability, and positions the Broadmeadows facility as a global benchmark in next-generation biopharmaceutical manufacturing. The Facility of the Year Award is a tribute to the dedication and collaboration of our entire team – across functions and continents," emphasised Andrew Hodder, VP Manufacturing and Site Head at Broadmeadows.

The facility's sustainable infrastructure plays a vital role in advancing CSL's commitment to responsible innovation and long-term impact, with innovations such as reusable filters, energy-efficient systems, and a fully automated warehouse powered by robotic vehicles for seamless material handling. "By combining automation, digital innovation, and sustainable design, we've built a future-ready facility that not only meets the highest standards in pharmaceutical manufacturing but also sets a new benchmark for responsible innovation", underlined Jeffrey Ball, Chief Sustainability Officer and Senior Vice President for EHS, Strategy & Engineering.

This recognition builds on the facility's earlier achievement in May 2025, when it received the ISPE FOYA award in the Pharma 4.0™ category for its advanced use of digital technologies and automation to transform pharmaceutical manufacturing.

About CSL

CSL (ASX: CSL; USOTC: CSLLY) is a leading global biopharma company with a dynamic portfolio of lifesaving medicines, including those that treat haemophilia and immune deficiencies, vaccines to prevent influenza, and therapies in iron deficiency, dialysis and nephrology. Since our start in 1916, we have been driven by our promise to save lives using the latest technologies. Today, CSL – including our three businesses, CSL Behring, CSL Seqirus and CSL Vifor – provides lifesaving products to patients in more than 100 countries and employs 29,000+ people. Our unique combination of commercial strength, R&D focus and operational excellence enables us to identify, develop and deliver innovations so our patients can live life to the fullest. For inspiring stories about the promise of biotechnology, visit CSL.com/Vita 

For more information about CSL, visit CSL.com.

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The US and South Korea remain stuck on all the major details of a $350 billion investment pledge, says President Lee Jae Myung. It comes after an ICE raid on a Hyundai battery plant in Georgia last month where hundreds of South Koreans were detained.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of COUR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

A heated debate among macro analysts is challenging the long-standing credibility of the ISM Manufacturing Purchasing Managers’ Index (PMI) — a key economic gauge often used to predict business cycles and Bitcoin market tops. The discussion underscores a broader clash between traditional economic indicators and modern financial-conditions-based analysis, with implications for crypto market forecasting.

Julien Bittel, CFA and macro strategist at Global Macro Investor (GMI), argues that Wall Street’s reliance on metrics like ISM, PMIs, retail sales, and job openings is misplaced. He asserts that these indicators lag real economic shifts, stating, “Everything is downstream to changes in financial conditions.” According to Bittel, GMI’s proprietary US Coincident Business Cycle Index — which factors in forward-looking labor and employment data — began improving in mid-2022, signaling economic recovery well before ISM data caught up. He believes a cooling labor market could foster lower rates and fuel the next phase of expansion.

However, Henrik Zeberg, another prominent macro strategist, disputes this perspective. He warns against overinterpreting survey-based indicators like the ISM, emphasizing, “ISM is NOT the business cycle or the economy. It is a survey!” Zeberg points out that in mid-2022, GMI’s model also predicted a recession that never materialized, suggesting the need for recalibration.

The ISM index, which measures US manufacturing activity, has remained below the neutral 50 threshold for over seven months — traditionally signaling contraction — yet a recession has not followed. Interestingly, analysts such as Raoul Pal and Colin Talks Crypto have noted that ISM’s movements historically align with Bitcoin’s major cycle tops. Based on this correlation, some predict Bitcoin’s next peak could extend into mid-2026, later than the widely expected 2025 top.

If ISM’s stagnation persists, it may indicate a slower but longer economic and crypto expansion, suggesting that Bitcoin’s current bull market could be more durable than previous cycles. This evolving debate bridges traditional economics and digital assets, reshaping how investors interpret macro signals in the crypto era.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

On October 25, 2025, a substantial transfer of bitcoin valued over $300 million ignited a wave of intrigue and speculation across the cryptocurrency community. This massive movement involved thousands of BTC being withdrawn from Kraken's hot wallet, prompting enthusiasts and market analysts to theorize about the intentions behind this quiet acquisition.

Ethereum’s largest holders are on the move again, signaling what could be the early stages of a major market shift. Recent on-chain data reveals a quiet yet powerful accumulation trend among wallets holding between 10,000 and 100,000 ETH — a cohort often associated with institutional investors and high-net-worth individuals.

According to analytics platform Alphractal, these whale addresses have been steadily increasing their holdings since April, marking one of the strongest accumulation waves since Ethereum’s 2021 bull cycle. Historically, this group’s buying activity has closely correlated with major Ethereum price surges, suggesting growing confidence in ETH’s long-term potential.

Analyst CryptoRus noted that similar patterns in 2017 and 2021 preceded major rallies, hinting that 2025 could follow suit. While retail investors remain cautious amid Bitcoin’s consolidation and global macro uncertainty, deep-pocketed players seem to be positioning for Ethereum’s next breakout.

Adding to the bullish sentiment, on-chain tracker Lookonchain recently highlighted a whale who rotated funds from Solana to Ethereum — selling nearly 100,000 SOL (worth about $18.5 million) to acquire over 4,500 ETH. This move underscores a potential shift in preference toward Ethereum’s stability and ecosystem maturity over Solana’s high-volatility environment.

However, not all analysts are optimistic. Johnny Woo warned that the broader altcoin market, excluding Bitcoin and Ethereum, is flashing sell signals, with the altseason index at its lowest since late 2022. Meanwhile, Mister Cryptocautioned that Bitcoin’s proximity to its 50-week moving average could trigger deeper corrections if broken.

Overall, market dynamics suggest a capital rotation toward Ethereum and Bitcoin while speculative altcoins lose steam. If whale accumulation continues to mirror past cycles, Ethereum may once again be at the forefront of the next major crypto expansion phase.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

October is traditionally one of Bitcoin's strongest months, often referred to as “Uptober” by traders, due to historical bullish trends. However, in 2025, BNB, the native token of Binance's BNB Chain, has emerged as the real standout, turning a challenging month for the broader crypto market into a period of gains for the ecosystem.

Key Takeaways
Why are Ethereum reserves on Binance falling?
Over 820,000 ETH have left Binance since August, pushing reserves to their lowest level since May.

What could this mean for ETH?
ETH could rally further if demand strengthens and exchange outflows continue.

Ethereum [ETH] is gaining as companies add to their holdings, and Binance’s ETH reserves fall to their lowest level since May.

With supply tightening across exchanges and corporate holdings, is ETH ready for the next big leap?

Binance ETH reserves at a 5-month low
Ethereum’s Exchange Reserves on Binance have seen a drop since late August, falling from 4.69 million ETH to just 3.87 million ETH by the 23rd of October; a decline of nearly 820,000 ETH.

Source: CryptoQuant

This is the lowest level since May, when ETH prices rallied from around $3,800 to $4,800 within weeks. The outflow means that more investors are moving their holdings off exchanges, implying confidence.

With fewer tokens available for trading, the market may be ready for a supply squeeze. If demand continues to build, it can push ETH up, too!

A possible turning point?
Adding to the bullish setup, Ethereum treasury firms appear to be stabilizing after months of decline.

Source: X

According to analyst TedPillows, corporate ETH holdings have been falling steadily since August 2025. This could be a key factor behind the token’s muted performance.

Recent data, however, proved this downtrend may be bottoming out.

If corporate buying continues, it could repeat phases where institutional confidence acted as a catalyst for ETH to surge.

ETH attempts recovery

At press time, Ethereum traded near $3,986, with a modest 0.82% daily gain.

Source: TradingView

The RSI was at 46.9, neither overbought nor oversold. Meanwhile, the OBV held around 11.92 million, with steady but limited buying pressure.

Trading activity remained moderate, with no major spikes in volume.

Price action over the past week formed a gradual upward curve following earlier sell-offs, showing an early-stage recovery attempt.

However, sustained momentum above the $4,000 resistance zone is needed to confirm a broader bullish reversal.

The Federal Reserve's planned interest rate reductions could trigger a historic surge of liquidity, potentially redirecting $7.4 trillion from money market funds (MMFs) into riskier assets, including stocks and Bitcoin, by 2026. This anticipated inflow has caught the attention of investors, analysts, and institutional funds, signaling a potential transformative impact on global financial markets.

The Bitcoin derivatives market is showing renewed strength as total options open interest (OI) reached a record high of $63 billion, signaling growing investor confidence and heightened speculative activity. According to CoinGlass data, this milestone highlights that traders are positioning themselves for a potential major price move in the world's largest cryptocurrency, reflecting optimism about Bitcoin's near-term trajectory.

Journalist

Posted: October 27, 2025

Key Takeaways
Should XRP bulls expect a bullish performance this week?
Yes, the breakout past the local resistance at $2.55, the rising Open Interest, and Taker Buy Volume showed short-term bullish sentiment.

How high can the current rally go?
The next targets would be $3.1 and $3.4- but caution is warranted. XRP was yet to recapture the $2.64 and $2.77 resistance levels.

Ripple [XRP] has rallied 11.4% in four days. One of the reasons spurring this move was whale accumulation. The breach of the technical $2.5 resistance swayed the short-term sentiment bullishly.

Source: XRP/USDT on TradingView

In a recent report, AMBCrypto noted that the $2.5-$2.77 was a key resistance zone for the bulls to overcome. At the time of writing, the local swing high at $2.64 was being challenged.

If breached, the likelihood of a rally beyond $2.77 would increase.

This week’s XRP price target would become $3. Bitcoin’s [BTC] move past $112k at the time of writing would help turn sentiment bullish in the short-term.

XRP Open Interest reaches May lows
In a post on CryptoQuant Insights, analyst PelinayPA revealed how the Open Interest trends could set the stage for an XRP rally. The Open Interest was just below $550 million, and at the same levels it had been in May.

The crypto crash on the 10th of October wiped out OI hard, across the market. This deleveraging event has accelerated the price reset and cleaned out the derivatives structure.

The current setup resembled conditions often seen at the beginning of a new trending phase, the analyst argued.

A recovery in the OI alongside strong spot demand would enable an XRP target to the $3 supply zone. Continued demand and momentum could push prices to $4.5, according to the analyst.

The taker buy/sell ratio swung in favor of the buyers recently. This has happened a handful of times since May, and usually comes during a strong uptrend.

Since August, price retracements into the $2.8-$3 demand zone have been met with heightened taker buy orders, indicating expectations of a bullish reaction from the support zone.

The increased taker buy volume as XRP races past the local resistance at $2.55 was a bullish development. The Open Interest has climbed from $550 million to $590 million within 24 hours, CryptoQuant data showed.

XRP bulls must take care not to get swept away by these developments. While positive, there were substantial obstacles overhead. The 1-day timeframe’s structure remained bearish.

The $2.8-$3 supply zone would be key to deciding the next impulse move’s direction.

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.
His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity.
Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution.
As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

XRP is rapidly ascending as the centerpiece of institutional digital finance, driving Ripple's aggressive global expansion through acquisitions, custody innovation, and liquidity breakthroughs that position XRP as the essential asset powering the future of interconnected financial infrastructure.

Bitplanet Inc. has purchased 93 BTC and initiated a daily Bitcoin buying program, positioning the company as a first mover in Korea’s public-market adoption of BTC for corporate treasuries. The Seoul-based firm says the transaction was executed entirely through regulated and compliant infrastructure.

“This transaction marks the first Bitcoin purchase by a publicly listed company in Korea executed entirely through regulated and compliant infrastructure,” said Paul Lee, Co-CEO of Bitplanet.

“With Asia’s digital asset landscape evolving rapidly, Bitplanet seeks to set a new benchmark for transparent, institutional-grade corporate Bitcoin adoption.”

The company framed the new program as a rules-based, long-term strategy rather than a one-off buy. Management said it will accumulate BTC every day to reduce timing risk and to formalize Bitcoin as a strategic treasury reserve asset.

10,000 BTC target, $40 million in fresh capitalBitplanet’s roadmap calls for building a 10,000-BTC treasury over time. To support that plan, the company raised $40 million last month, earmarked to fund ongoing accumulation and strengthen balance-sheet optionality as BTC market conditions evolve.

Bitplanet is backed by a roster of digital asset and traditional finance investors, including Simon Gerovich of Metaplanet, AsiaStrategy, Sora Ventures, UTXO Management, KCGI, Kingsway Capital, and ParaFi Capital. The investor lineup underscores Bitplanet’s ambition to become a regional reference point for institutional Bitcoin treasury management.

Formerly known as SGA Inc., Bitplanet describes itself as Korea’s first KOSDAQ-listed institutional Bitcoin treasury company.

Built on an IT services foundation, the firm emphasizes compliance, risk management, and financial engineering as the pillars of its strategy to help corporates adopt Bitcoin in a transparent, regulated manner.

Mentioned in this article

In a surprising turn for the crypto world, a dormant Bitcoin wallet from 2011 has stirred after more than 14 years of inactivity, transferring 4,000 BTC—valued at roughly $442 million at current prices. This rare movement has captured the attention of blockchain analysts, traders, and enthusiasts alike, sparking conversations about the origins of these coins, the motivations behind such moves, and what this means for Bitcoin's on-chain activity.

On-chain data shows roughly 62,000 BTC have moved out of long-term storage since mid-October, softening one of this cycle’s strongest tailwinds. But steady whale accumulation and a moderate short-side cleanup helped prices stabilize near $114K.
Oct 27, 2025, 1:54 a.m.

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.
Bitcoin’s recovery above $114,000 this week reflects a measured reset rather than a breakout. Glassnode data show that since mid-October, about 62,000 BTC have moved out of long-term inactive wallets, roughly 0.4% of the total illiquid base.

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The shift marks the first notable decline in illiquid supply this cycle, signaling that some long-held coins are returning to more liquid hands.

Whales, however, have been quietly absorbing that flow, data from Glassnode shows.

Wallets holding large balances have added to their positions over the past 30 days and haven’t meaningfully sold since Oct. 15. By contrast, smaller holders between 0.1 and 10 BTC, roughly $10,000 to $1 million, have been steady sellers since late 2024. The result is a redistribution phase: weaker hands trimming risk, larger holders accumulating.

In derivatives, leverage has stayed balanced. Hyperliquid leaderboard data show about $4.1 billion in open interest split almost evenly between longs and shorts, with a slight tilt toward the latter.

Coinglass tracked around $413 million in liquidations over the past 24 hours, about $337 million of which were shorts. That’s a moderate flush, not a full short squeeze, enough to clean up over-levered bets but not to reset positioning or force panic buying.

Together, these dynamics can help explain the calm recovery in bitcoin's price. BTC’s move from $110K to $114.9K was driven by a mix of mild short covering and steady spot absorption rather than momentum chasing. Glassnode data shows that the market now sits in a neutral zone: illiquid supply is easing, whales are holding, and leverage is balanced.

For now, Bitcoin is likely to oscillate between $113K and $116K until the next catalyst emerges. With a dovish Fed already widely expected, the question is, what will this be?

Market Movement:BTC: Bitcoin’s rise from $110K to about $114.9K reflects a modest recovery powered by whale accumulation and mild short covering, not the kind of broad-based demand that signals a new uptrend.

ETH: Ether climbed to $4,186, up about 6% over 24 hours, outperforming Bitcoin as traders rotated into higher-beta assets following BTC’s stabilization, though on-chain and derivatives data suggest the move remains largely momentum-driven rather than backed by strong new inflows

Gold: JPMorgan expects gold to climb to $5,055 an ounce by late 2026 and $6,000 by 2028, calling the recent pullback a healthy consolidation within a broader uptrend driven by Fed rate cuts, stagflation fears, and rising demand from central banks and investors diversifying away from the dollar.

Nikkei 225: Japan’s Nikkei 225 surged past 50,000 for the first time as optimism over U.S.-China trade talks and hopes for domestic demand expansion under Prime Minister Takaichi lifted sentiment.

Elsewhere in Crypto:Betting Scandals Are Rocking Sports. Will Prediction Markets Help or Hurt? (Decrypt)Could China ‘militarise’ cryptocurrencies to beat financial sanctions? (SCMP)Tether Eyes Fresh Investments to Push USAT Stablecoin to 100M Americans at December Launch (CoinDesk)More For You

Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.

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Bitcoin Rebounds as $319M in Shorts Are Liquidated While Traders Eye U.S.-China Talks

Bitcoin cleared $112,000 on heavy volume and hovered near $114,500 late Sunday (UTC), while CoinGlass showed $319 million of short positions liquidated over 24 hours.

What to know:

Bitcoin cleared $112,000 on heavy volume and hovered near $114,500 late Sunday (UTC). Derivatives data from CoinGlass show $393.74 million in liquidations over the past 24 hours, including $319.18 million from short positions.Traders are watching the $115,000–$116,000 area next as a confirmed Trump–Xi meeting on Oct. 30 adds to the backdrop.Read full story

Quantum computing could change the world, and IonQ's quantum computing stock has fallen 26% from its October peak. Does that add up to a wide-open buying window?

Quantum computing specialist IonQ (IONQ +1.55%) soared to an all-time high in mid-October, but has backed down from that peak recently. The stock closed at $59.37 per share on Oct. 23, 28% below the $82.09 mark on Oct. 13.

Is this dip an invitation to buy IonQ stock, or the start of a deeper downturn -- or something in between? Let's take a look.

Image source: Getty Images.

Why quantum computing could change everything
Quantum computing should eventually turn the number-crunching world upside-down. Monitoring the physics of specially designed materials is a radically different computing method from the classical routing of digital signals through various types of logic gates.

In the long run, quantum systems should get very good at finding patterns in large data sets. In practice, people may use this new computing paradigm to decode genetic data, decrypt encrypted information, analyze financial markets, and more. I've got my fingers crossed for a quantum supercomputer finally figuring out the objectively correct way to raise your kids, but let's not hold our breath on that one.

Hold that thought, though (while breathing comfortably).

So far, IonQ is one of the largest and most successful developers of quantum computing systems. With $52.4 million of trailing revenue and a market cap of $21.8 billion, it stands head and shoulders over smaller quantum hopefuls such as Rigetti Computing (RGTI 1.91%) and D-Wave Quantum (QBTS +5.05%).

IonQ's focus on trapped ion systems is more natural than the superconducting gates used by Rigetti and D-Wave's quantum annealing. Its hardware is already producing high-quality data that can do useful things with less error correction. It's not a perfect solution, though; IonQ's data processing is also slower than the superconducting circuits and requires more precise engineering.

If IonQ's solutions can produce business-grade quantum computing systems before the others, you're looking at the early days of another durable tech titan.

IonQ's success is far from guaranteed
Unfortunately, IonQ has many hurdles to jump before reaching that lofty goal.

What if superconducting circuits are the right long-term approach, making IonQ's research obsolete in five or 10 years? In this case, I'd rather own Rigetti and D-Wave stock.

D-Wave and Rigetti may not look too dangerous today, but IonQ is also competing with well-heeled giants like Alphabet (GOOG +2.67%) (GOOGL +2.70%) and IBM (IBM +7.98%). IBM Quantum Computing and Google Quantum AI already have boatloads of technology patents, and their massive research budgets make IonQ and Rigetti look like rounding errors.

And there are no guarantees that IonQ's quantum computing research efforts will succeed. The trapped ion approach makes sense today, but the company's scientists could run into unexpected roadblocks and failed experiments. Any experienced biotech or semiconductor investor can tell you scary tales of promising research projects leading to a dead end.

Unfortunately, it will probably take many years to create truly useful quantum computers. If nothing else, IonQ may very well run out of cash long before the final breakthrough. From dilutive stock sales to expensive loans to all-out bankruptcy, none of the options is particularly shareholder-friendly.

The stock price lives in a different reality
Meanwhile, IonQ's stock is trading at nosebleed valuations. It's as if the company's long-term success were already guaranteed, with no regard at all for the many risks that remain.

So the greatest risk of all for IonQ investors may be the stock's unsustainable valuation. I already gave you the figures to work out its price-to-sales ratio -- a terrifying 415.5 times trailing revenue.

And I can't even talk about profit-based metrics, because IonQ isn't making money. Like, at all. With $52.4 million of trailing sales, the company reported a net loss of $464.3 million over the last four quarters. And it's not just a tax-savvy accounting move, either. IonQ's free cash flow was a negative $155.1 million in the same period.

The company is running its pricey research projects and burgeoning system manufacturing operations on a rapidly dwindling reserve of investor capital.

Today's Change

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1.55

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0.92

Current Price

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60.29

Bottom line: Wait for a better entry point
IonQ is at the forefront of a thrilling technological revolution, sure to create a new set of business giants and make millionaires out of early investors. That is, early investors in the eventual winners, which may or may not include IonQ.

I would consider buying a few IonQ shares if the stock weren't so incredibly expensive, but I'm not interested at all in the current setup -- even 26% below the even loftier mid-October peak. Give me a call if and when the market comes to its senses, accounting for IonQ's long-term risks in a much lower share price.

Until then, I can only hope the stock chart continues to trend lower for a while. I wouldn't dare short this volatile stock, of course -- it's all about finding a more reasonable entry point.