All it took to derail a rally that had sent shares of pure-play quantum computing stocks soaring was a single comment from a tech CEO. When Nvidia's Jensen Huang suggested that a useful quantum computer was likely decades away,

The drop in stocks came after Nvidia CEO Jensen Huang's Q&A with analysts at CES in Las Vegas. When answering a question about the future of quantum computing, he said the timeline may be between 15 and 30 years until there is "very useful" quantum computers. This is the relevant quote from Huang:

As with any Discovery Stock, investors are looking to the price and the potential of the stock, not the fundamentals. As it stands now, IonQ has the benefit of round numbered support from the $30 price. Shares recently saw support at $40 on their ascent and then resistance at $50, displaying the effect of round-numbered prices.

Quantum computing stocks collapsed in the early part of January, thanks in part to comments from the CEO of Nvidia. The companies have promising technology, but it is still many years away from commercialization.