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Today's the last hurrah.
Pools close, the white pants go back in the closet, and tomorrow everyone's back to their regular Tuesday.
Almost everyone.
Millionaire trader Tim Sykes' Weekend Gap strategy is built around one thing being closed this weekend: the stock market itself.
Because trading doesn't resume until Tuesday this year, the window he trades is longer than any weekend all year.
His $1 training on how the whole thing works is still live right now.
It closes the same moment the market reopens tomorrow morning.
Click here before the long weekend ends for good.
Will the Most Successful Quantum Firms Be Software Companies?
Authored by Nathan Reiff. Publication Date: 9/2/2026.
Key Points
- Quantum Computing as a Service, or QCaaS, may matter more than raw hardware power for generating revenue among D-Wave, Rigetti, and Quantum Computing Inc.
- D-Wave appears best positioned for QCaaS growth, with over 37% of its QCaaS revenue coming from production applications and several 8-figure enterprise agreements.
- Rigetti shows stronger revenue and margin growth but remains hardware-dependent, while Quantum Computing Inc. is furthest from a QCaaS model and considered the riskiest bet.
- Special Report: Everyone wanted SpaceX. Smart money wants this.
The argument for quantum computing investors has largely focused on hardware, as companies race to achieve increasingly impressive qubit counts and lower error rates. Although these technologies remain largely untested in commercial applications, there is also considerable debate over which architecture—from annealing to trapped-ion and beyond—is the most promising.
While this debate assumes that the company building the most powerful quantum device will ultimately win the market, it obscures the element that may be best positioned to generate growing revenue for companies such as D-Wave Quantum Inc. (NASDAQ: QBTS), Rigetti Computing (NASDAQ: RGTI), and Quantum Computing Inc. (NASDAQ: QUBT): the software and cloud layer, and more specifically, quantum computing as a service, or QCaaS.
We're in a Noisy Middle Period
Wall Street Braces for the Biggest Tech IPO Wave in History (Ad)
Reuters calls it a combination without precedent in U.S. market debuts. Barron's estimates the coming AI IPO wave could be worth 4 trillion dollars, led by OpenAI and Anthropic.
Former IPO insider Jason Bodner previously flagged Nvidia before its 7,161% run, Super Micro Computer before its 2,601% run, and The Trade Desk before its 2,572% run.
Now he's breaking down how investors can position ahead of the OpenAI and Anthropic IPOs.
Click here to see Jason Bodner's full breakdown of the detailsPart of the reason QCaaS matters now is that the quantum computing industry is in a noisy middle period. Machines can operate with up to around 1,000 qubits, but errors remain frequent. Fault-tolerant quantum computing appears to be years away, making it likely that hardware will not fully scale in the near to medium term.
Instead, access to quantum tools may be easier to monetize, allowing clients to run hybrid classical-quantum systems and complete important tasks on quantum processors without owning the hardware.
D-Wave's QCaaS Paves the Way
D-Wave has one of the strongest cases for QCaaS, as evidenced in large part by its significant bookings this year, particularly in the latest quarter. It has negotiated several eight-figure enterprise QCaaS agreements, which provide a boost alongside its hardware system sales. Those sales can be lumpy, which may have contributed to the company's overall disappointing performance last quarter.
The bright spot for D-Wave amid disappointing revenue performance last quarter was its commercial metrics. More than 37% of its QCaaS revenue came from production applications, meaning companies were using quantum computing for live, operational workloads. This figure is important because it represents a customer base that may be most likely to rely on a quantum computing firm for stable, repeat business, generating recurring subscription revenue.
D-Wave may have this advantage because of its quantum annealing hardware, which is designed specifically for optimization tasks that appeal to enterprise customers that do not yet need fault-tolerant quantum computing. This is also why investors may want to view D-Wave increasingly as a software or services provider in addition to a hardware company.
Rigetti's Cloud Offerings Are in Progress
Rigetti takes a different approach, generating revenue by building quantum computers and integrating them into cloud platforms. The company does generate cloud revenue, but its primary offering is access to its hardware rather than a software-based, recurring-revenue business.
At the same time, Rigetti has shown more meaningful progress than D-Wave this year. Revenue and gross margin both improved considerably year over year (YOY) in the latest quarter, with revenue coming close to tripling.
Still, Rigetti's revenue model appears to depend more heavily on hardware and the achievement of major technology milestones, such as the 108-qubit system it is targeting in 2026 and the 150-plus-qubit system planned by the end of the year.
Despite its apparently stronger Q2 2026, Rigetti may have a more difficult time adopting a QCaaS-first approach than D-Wave.
Quantum Computing Is a Higher-Risk Play Overall
As the smallest company on this list, with a very thin revenue history, Quantum Computing Inc. appears to be relying even more heavily on its ability to scale its architecture. In an already speculative industry, QUBT stands out, and Wall Street analysts agree: QUBT shares are a Hold overall, despite forecasts suggesting that the share price could surge by about 130%.
QCaaS appears to be a long way off for Quantum Computing, despite the potential of its unique photonic architecture. The company may appeal to investors seeking a diversified approach to the hardware side of quantum computing and looking to bet on photonic computing as the architecture that ultimately wins.
To be sure, all of these companies represent fairly speculative bets at this point. However, D-Wave appears to be best positioned for a QCaaS-forward approach, while Rigetti lies somewhere in the middle and Quantum Computing is least prepared to build software-like recurring revenue streams. Still, the industry is changing rapidly and becoming increasingly differentiated, and a new leader in the QCaaS race may emerge in the future.
StoneX: Too Far Too Fast?
Authored by Peter Frank. Publication Date: 8/25/2026.
Key Points
- StoneX Group posted record fiscal third-quarter results, with net operating revenue up 47% and net income more than doubling to $127.9 million.
- Analysts maintain a consensus Buy rating on StoneX with a $112 price target, implying more than 60% upside despite recent stock declines.
- Acquisitions such as R.J. O'Brien, Banco Travelex, and Advanced Marketing Group are fueling growth, though insider selling and market volatility pose risks.
- Special Report: Everyone wanted SpaceX. Smart money wants this.
StoneX Group (NASDAQ: SNEX) should be accustomed to wild market swings. This New York-based financial services firm deals in everything from commodities and currencies to securities and digital assets.
This year, however, the company has taken a wild swing of its own. It has delivered remarkable revenue growth and an extraordinary increase in earnings, all while its stock was suddenly punished after reaching record highs. Now, analysts rate it a Buy, with more than 60% upside over the next 12 months.
A Major Force in Global Markets
Wall Street Braces for the Biggest Tech IPO Wave in History (Ad)
Reuters calls it a combination without precedent in U.S. market debuts. Barron's estimates the coming AI IPO wave could be worth 4 trillion dollars, led by OpenAI and Anthropic.
Former IPO insider Jason Bodner previously flagged Nvidia before its 7,161% run, Super Micro Computer before its 2,601% run, and The Trade Desk before its 2,572% run.
Now he's breaking down how investors can position ahead of the OpenAI and Anthropic IPOs.
Click here to see Jason Bodner's full breakdown of the detailsStoneX is hardly a household name like a bank or brokerage app. But the firm has quietly become one of the most important pieces of the global markets infrastructure, connecting farmers, exporters, hedge funds and everyday traders.
With a presence in more than 140 countries, its business offerings are extensive. They include brokerage and hedging services for agricultural products, energy and metals; spot and forward currency trades; derivatives clearing; margin financing; and advisory support.
That array of financial networks, it turns out, can be highly profitable, especially during periods of market volatility.
For the company’s fiscal third quarter, StoneX reported net operating revenue of $719.7 million, up 47% year over year, while net income more than doubled to $127.9 million, a 102% increase.
Diluted earnings per share (EPS) reached $1, up 85% from a year earlier and above analysts’ estimates. Return on equity reached 18.4%, comfortably above the company’s own 15% long-term target.
Commercial and Institutional Lead the Growth
The Commercial segment led much of the way. Revenue for the unit, which covers hedging and physical commodities execution, jumped 97%. The Institutional segment grew 40% on record securities trading volume tied to its recent acquisition of the R.J. O’Brien business.
The lone soft spot was Self-Directed/Retail, where revenue fell 13% as retail trading activity cooled.
StoneX Extends Its Record Results
The recent growth trend is hardly confined to one quarter.
For the first nine months of fiscal 2026, net income doubled to $441.2 million and diluted EPS climbed 82% to $3.49. That follows the previous full year, ended Sept. 30, which itself set a record. Operating revenue rose 20% to $4.13 billion, net income climbed 17% to a record $305.9 million, diluted EPS reached $5.89, and return on equity came in at 15.6%, again above management’s target.
Acquisitions Add Fuel to Expansion
While much of the company’s growth is organic, acquisitions have also helped fuel its expansion.
StoneX completed a roughly $900 million purchase of R.J. O’Brien & Associates on July 31, 2025, instantly making it the largest nonbank futures commission merchant in the United States by customer assets.
This year, on Aug. 12, StoneX agreed to acquire Banco Travelex S.A., Brazil’s first bank dedicated solely to foreign exchange, to expand its Latin American payments footprint. Most recently, it disclosed a deal for Advanced Marketing Group to broaden its feed-ingredients trading capabilities.
Analysts Scale Back Upside
With just four analysts tracking the stock, StoneX has collected a consensus Buy rating. One analyst rates the stock a Strong Buy, one lists it as a Hold and the other two rate it a Buy.
The current 12-month consensus price target is $112 per share.
That target reduction hit the shares hard. Jefferies cut its price target to $112 from $123 in July and warned that the stock’s valuation had gotten ahead of itself.
Rapid Growth Comes With Risks
There’s little doubt that StoneX is converting market activity into revenue and earnings. Investors, however, should recognize how closely StoneX’s earnings might be tied to market volatility—and how violently the stock can react when that volatility cools.
It’s also worth pointing out that there have been roughly $114 million in insider stock sales over the past 90 days. That could suggest that management is trimming its exposure even as it highlights the potential for synergies from recent deals.
StoneX also competes with far larger rivals in some of its activities, including Charles Schwab (NASDAQ: SCHW), LPL Financial Holdings (NASDAQ: LPLA) and Goldman Sachs (NYSE: GS). Its acquisition strategy also carries integration risk if the newest deals stumble.
Growth at a Reasonable Valuation
That’s not to say StoneX isn’t a legitimate growth story trading at a value-stock price. It might not be the right stock, though, for anyone who wants a guaranteed smooth ride.
The underlying business keeps setting earnings records, management keeps finding attractive deals, and a trailing price-to-earnings ratio below 17 looks reasonable next to the growth rate on offer.
Buy StoneX for the compounding, but only if you can stomach the quarterly whiplash that comes with it.
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