D-Wave Quantum (QBTS) Stock Pulls Back After 133% May Rally on Quantum Computing Breakthrough
D-Wave Quantum shares retreated 1.85% to $17.00 in midday trading May 28th, cooling after a 133% monthly surge fueled by its Advantage2 quantum system launch. The stock had reached an intraday high of $17.65 before settling at $17.00 on elevated volume.
May’s rally unfolded in two acts: an initial jump post-earnings where revenue growth outpaced loss projections, followed by a sharper ascent after announcing Advantage2’s commercial availability. The new system doubles coherence speed and will deploy via D-Wave’s Leap cloud platform.
Bearish signals emerged as short interest climbed 17% to 56 million shares. Valuation concerns persist with a 239.76 price-to-sales ratio, though the quantum computing pioneer continues progressing toward profitability.
