D-Wave Quantum (QBTS) Stock Skyrockets Over 50%: Shares Soar to $10.37 in Stunning Afternoon Rally

BURNABY, BC – May 8 – Shares of quantum computing firm D-Wave Quantum Inc (NYSE: QBTS) are experiencing an explosive upward movement in today’s trading session. As of 2:20 PM Eastern Time, the stock is trading at an impressive

3.48, or a staggering 50.51%, for the day, indicating exceptionally strong buying pressure and a significant market event.

D-Wave Quantum, which specializes in quantum annealing systems and is listed on the New York Stock Exchange, opened the trading day at $8.67. The stock has been on a powerful surge, reaching an intraday high of $10.87 and a low of $7.71. The current price reflects a dramatic increase from its previous closing price of $6.89.

Investors are keenly observing D-Wave’s financial details amidst this massive rally. The company’s market capitalization currently stands at 301.84Cr. Interpreting “Cr” as Crore (an Indian numbering unit equal to 10 million), this would suggest a market valuation of approximately 3.02 Billion USD.

Other key financial metrics indicate that the Price-to-Earnings (P/E) ratio for D-Wave Quantum is not currently available (“-“). Similarly, the company does not presently offer a dividend yield, which is also listed as not applicable (“-“).

Over the past 52 weeks, D-Wave Quantum’s stock has seen substantial volatility. The 52-week high for QBTS shares is $11.95, and today’s intraday high of $10.87 brings it very close to this peak. The 52-week low for the stock is $0.75. Today’s extraordinary rally has propelled D-Wave shares significantly higher, as market participants react to developments in the cutting-edge quantum computing sector.