D-Wave Quantum Inc. (QBTS) has experienced a 29.4% decline month-to-date as of October, contrasting sharply with the Computer and Technology sector’s 1.4% decline and the S&P 500’s 1.2% gain. This drop is attributed to profit-taking, valuation concerns, and macroeconomic pressures such as high U.S. Treasury yields and prolonged interest rates, impacting speculative tech stocks despite ongoing excitement for quantum computing.
Competitors IonQ (IONQ) and Rigetti Computing (RGTI) are also facing substantial share price declines of 34.1% and 27%, respectively. D-Wave is set to report its second-quarter earnings in early August, with analysts expecting a loss of 8 cents per share, an 85.5% improvement from last year. In a strategic move, the company plans to transfer its listing from the NYSE to Nasdaq this month, aiming to enhance investor visibility as it continues to advance into gate-model quantum computing.
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