D-Wave Quantum ( (QBTS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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D-Wave Quantum’s stock has seen a notable decline due to comments from Nvidia’s CEO about the long timeline for quantum computing adoption, which could take 15 to 30 years. Despite the technology’s promising future, the market has been overly optimistic, neglecting the company’s stagnant revenue and high price-to-sales ratio, signaling overvaluation. Analysts suggest a downturn is likely and recommend strategies like a Bear Put Spread to manage the expected pullback amid the current market volatility.
More about D-Wave Quantum
YTD Price Performance: -0.62%
Average Trading Volume: 45,420,393
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.75B
For further insights into QBTS stock on TipRanks’ Stock Analysis page.
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