D-Wave Quantum Stock Retreats After Stellar Rally
D-Wave Quantum Inc. (QBTS) shares plunged as much as 11.5% on Thursday, marking a sharp pullback after its unprecedented 4,390% surge over the past year. The decline reflects profit-taking rather than fundamental weakness—investors capitalized on Wednesday's record close following a series of bullish catalysts.
September's quantum computing sector rally, fueled by peer advancements and capital inflows, set the stage for D-Wave's ascent. This week's dual boost—an innovation award from Fast Company and a major system sale to Swiss Quantum Technology SA—propelled the stock to vertiginous heights. At 628 times trailing sales, the valuation now dwarfs even premium tech multiples.