Key Points
D-Wave Quantum Inc. (QBTS) closed lower today, slipping from a previous close of $28.73 to $27.19. The move equates to a decline of 5.36%, with shares declining $1.54 on the session. The action follows a volatile week for the name and comes after a fast, news-driven advance earlier in the week that lifted the stock to multi-day highs before sellers reasserted control into today’s close.
Trading occurred on below-average volume, underscoring a pause in participation after the recent burst of activity. QBTS remains 42% below its 52-week high of $46.75, reinforcing that the stock is still in a broader drawdown despite sharp, short-term rallies. From a technical perspective, the stock has been oscillating between the upper $20s and low $30s, where repeated tests have invited profit-taking. The $25–$28 zone has acted as a near-term pivot as traders reassess momentum and valuation.
In recent sessions, QBTS has swung sharply as sentiment rotates across Information Technology, particularly within Software and Services. The group has faced periodic risk-off episodes, and the stock’s higher-beta profile has amplified day-to-day moves. With investors weighing long-duration growth opportunities against operating losses and valuation constraints, the tape remains highly sensitive to headlines and catalyst-driven flows. Until conviction builds around sustained fundamentals, the price pattern is likely to reflect that tug-of-war between optimism on quantum adoption and caution on execution and profitability timelines.
Why D-Wave Quantum Inc. Price is Moving
At $27.19, D-Wave Quantum Inc. trades with a market capitalization of $10.06 billion. The company’s trailing 12-month EPS is -$1.35, and its 52-week range spans $2.88 to $46.75, highlighting the stock’s significant volatility and large absolute moves over the past year. Today’s decline unfolded on below-average volume, signaling more measured participation compared with earlier in the week when momentum accelerated.
The week’s price swings have centered on a prominent catalyst: D-Wave formed a new business unit focused on U.S. government quantum computing contracts, led by Jack Sears Jr. That announcement drove a run-up of over 14% on December 4, with shares rallying from roughly $25 to $28.73. Today’s roughly 5.4% retracement appears largely driven by profit-taking after the fast advance and ongoing debate about valuation and losses. Fundamental interest was bolstered by the company’s Nov. 6 report, where it beat Q3 expectations with EPS of -$0.05 versus -$0.07 and revenue of $3.74 million versus $3.03 million, reflecting 105.6% year-over-year revenue growth. Quarter-over-quarter revenue rose to $3.74 million for the period ended 09/30/2025 from $3.10 million on 06/30/2025, a sequential increase of 20.6%.
From an analytical standpoint, the stock’s negative P/E and continuing net losses temper enthusiasm sparked by government-related opportunities. Within Software and Services, investor appetite has been rotating toward names with clearer paths to profitability, and that backdrop raises the hurdle for maintaining gains after news-driven spikes. As traders balance strong top-line growth and contract potential against valuation and operating efficiency, price action is likely to gravitate toward key technical areas until a more definitive earnings trajectory emerges.
What is the D-Wave Quantum Inc. Rating - Should I Sell or Buy?
Weiss Ratings assigns QBTS a D rating. Current recommendation is Sell.
The rating is built on five indices: the Weak Growth Index (measures revenue and earnings expansion) fits a profile where strong top-line percentages, such as 99.95% revenue growth in recent comparisons, have not translated into durable earnings. The Very Weak Efficiency Index (measures operational effectiveness and profit margins) is weighed down by a -1,651.80% profit margin, underscoring significant operating losses. The Excellent Solvency Index (measures financial health and debt management) supports the balance sheet component. The Good Total Return Index (measures stock price appreciation plus dividends) reflects constructive risk-adjusted performance stretches. The Weak Volatility Index (measures price stability and risk) captures elevated price swings, consistent with a -21.27 P/E ratio that signifies ongoing losses.
Relative to sector peers, CrowdStrike (CRWD) holds a D rating, while Snowflake (SNOW) and Cloudflare (NET) are rated D-. That peer set indicates a cautious tone across segments of Information Technology, particularly within Software and Services, where higher-multiple, growth-oriented businesses are contending with valuation and profitability scrutiny.
Overall, the D rating reflects that, despite periods of strong total return and solid solvency, Very Weak efficiency, Weak growth on a risk-adjusted basis, and Weak volatility characteristics dominate the risk/reward equation. For investors, the takeaway is clear: strengths exist but are insufficient to offset operational losses and instability in price behavior, keeping QBTS in the weaker cohort on a risk-adjusted basis.
About D-Wave Quantum Inc.
D-Wave Quantum Inc. operates within the Software and Services industry of the Information Technology sector, focusing on quantum computing systems, software, and cloud services. The company pioneered commercial quantum annealing technology and has built an integrated stack that allows developers and enterprises to access quantum resources through the cloud. With a history rooted in advancing practical quantum solutions, D-Wave has emphasized optimization use cases that map well to real-world business problems in logistics, scheduling, and resource allocation.
The company’s offerings include quantum processing units (QPUs) based on quantum annealing and a suite of software tools that streamline application development. Through its cloud platform, developers can submit problems to D-Wave systems and hybrid solvers that blend classical and quantum resources for performance and scalability. Toolkits, such as open-source developer libraries and SDKs, enable modeling of combinatorial optimization problems and integration into enterprise workflows. Professional services support customers in formulating problems for quantum solvers and in evaluating performance on production-relevant tasks.
D-Wave’s market position is defined by early-mover advantages in quantum annealing, a focus on applied optimization, and a full-stack approach that spans hardware, hybrid solvers, and developer tooling. The company works with commercial and public-sector users seeking to accelerate complex decision-making and operational efficiency. Differentiators include specialized hardware designed for large-scale optimization, a maturing cloud delivery model, and a portfolio of technologies aimed at making quantum resources accessible to software teams. This orientation toward practical workloads positions D-Wave within a distinct niche of the broader quantum computing landscape.
Investor Outlook
For QBTS, watch whether the $25–$30 zone continues to serve as a battleground as momentum cools and the Weiss Ratings D (Sell) assessment emphasizes operational efficiency and volatility risks. Progress on revenue scale and margin improvement would be key to shifting the underlying indices that drive the rating.
See full rankings of all D-rated Information Technology stocks inside the Weiss Stock Screener.