Is D-Wave Quantum Stock a Buy Now?
D-Wave Quantum (NYSE: QBTS), an early mover in the quantum computing market, went public by merging with a special purpose acquisition company (SPAC) on Aug. 22, 2022. It started trading at $10, but it sank to a record low of $0.41 on May 12, 2023. At the time, its persistent dilution, steep losses, and sky-high valuation all drove away its investors. Rising interest rates and threats of a potential delisting made its volatile stock even less appealing.
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But as of this writing, D-Wave's stock trades at about $14. If you had invested $1,000 in the stock at its all-time low, your investment would be worth more than $34,000. The bulls rushed back as interest rates declined, the quantum computing market heated up again, and it rolled out a powerful new processor. But is it still worth buying today?
Source Fool.com
