Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.85, read 2026-11-02
Ethical does not pass the values gate
Price7.44 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-10-11Read Markdown13.15-43.4% to today ✓Accumulation gives way to Markdown with volume flow in agreement
2026-09-02Read Accumulation13.53-45.0% to today Distribution gives way to Accumulation after a 49% rise in 4 weeks
2026-08-02Read Distribution9.09-18.2% to today ✓Markup gives way to Distribution after a 32% slide in 4 weeks
2026-07-02Read Markup13.42-44.6% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Infleqtion, Inc. holds its Markdown at $7.44. The statistical read favours the sellers, held for 57 days.
As held on the ledger · 2026-11-05
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 57 days
Price at the screen
$7.44
Valuation
N/A trailing · -35.68 forward price to earnings
Values screen
FAIL· score 70.0
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
7.06%
Below 33%
Interest-bearing debt is just 7.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
60.21%
Below 49%
Money owed to the company is 60.2% of assets, above the 49% limit.
Fail
Revenue purity
4.00%
Below 5%
Only 4.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Infleqtion,'s business is fine, but its receivables are about 60% of its assets, well over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when INFQ's ethical verdict changes
Today INFQ does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Fair value under review. Our model's value is 2.57x the price, above our 2.00x limit. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Quantum labs chase the future while bleeding cash
Picture a lab turning atoms into the next wave of sensors and computers, yet every month the cash outflows dwarf whatever revenue trickles in. Infleqtion sits at that early, unproven stage with revenue growing just 14 percent and a profit margin of minus 167 percent. The shares trade at half the stated fair value, but the opportunity rating stays at none because the business model has yet to prove it can scale beyond grants and pilots.
We pass for the simple reason that a negative 32 times forward earnings multiple signals losses that are still widening, not narrowing, and the competitive moat remains unknown in a field where bigger players already hold the edge. Four analysts offer a median target of 21 dollars with no consensus rating, which tells you the story is still more hope than numbers.
The real risk sits in execution and dilution. Quantum hardware takes years of heavy spending before any path to sustained profits appears, and currency or funding shocks can wipe out the apparent margin of safety in one quarter. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
INFQ trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-01Markdown$8.88+2.5%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 2.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21. Insiders have been net sellers over the past quarter.
2026-10-25Markdown$8.66-14.3%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 14.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21. Insiders have been net sellers over the past quarter.
2026-10-18Markdown$10.10-23.2%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 23.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading overbought. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21. Insiders have been net sellers over the past quarter.
2026-10-11Markdown · changed$13.15-5.8%Entry 7
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading overbought. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21. Insiders have been net sellers over the past quarter.
2026-10-02Accumulation$13.96+3.2%Entry 6
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21. Insiders have been net sellers over the past quarter.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 48.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21. Insiders have been net sellers over the past quarter.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 32.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21.
2026-07-18Markup$13.42+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (2 analysts) rates it strong buy, with a mean price target of $21.
2026-07-03Markup$13.42+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$13.42Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.