D-Wave Quantum Inc. shares surged by 23.50% today, closing at $4.73 after gaining $0.90 in a robust trading session. Pre-market activity showed additional momentum, with shares climbing $1.30 to $6.02. The rally comes on the heels of strong fiscal 2024 bookings, which exceeded $23 million—a 120% increase year-over-year—and $18 million in Q4 bookings alone, marking a fivefold increase from the prior year.
We were talking about if there is a comeback in the cards? The answer seems to be yes.
D-Wave climbs 23% on $23M bookings and institutional backing
The company’s participation at the 27th Annual Needham Growth Conference further bolstered visibility, with CEO Dr. Alan Baratz highlighting the commercial viability of D-Wave’s quantum computing technology. High-profile clients like Mastercard and NTT Docomo underscore this assertion, countering broader industry skepticism about near-term quantum computing utility. Adding to the bullish sentiment, institutional backing from heavyweights like Vanguard and BlackRock, coupled with increased trading in options, signals robust market confidence. Analysts are revising price targets upward, aligning with broader enthusiasm for the quantum computing sector.
How D-Wave Quantum pulled off a 500% stock jump
For investors, today’s climb underscores the growing recognition of D-Wave’s commercial achievements and the sector’s potential. The dramatic uptick in bookings is a standout metric, highlighting the company’s ability to deliver tangible results in an emerging field. Institutional support and analyst optimism add weight to the stock’s momentum.
However, caution is warranted. While today’s performance is compelling, sustained growth depends on the company’s ability to maintain client traction and meet high market expectations. Keep an eye on upcoming events and additional bookings to gauge whether this rally has room to run or signals a peak in speculative interest.
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Featured image credit: D-Wave
