How D-Wave Quantum Stock Gained 70%

D-Wave Quantum (QBTS)’s stock shot up 68%, not on sales growth, but a sharp jump in how investors value each dollar of revenue. Behind this leap: upbeat Q3 earnings, strategic moves in Europe, a Fed rate cut, and a major U.S. government deal—all reshaping the market’s outlook.

So what is happening here? The stock surged 68%, driven entirely by a jump in its P/S multiple, while revenue held steady. Let’s now explore the key events behind this shift.

Before we get into details of events that led to stock surge, here is what market wisdom says: A single stock can be risky, but there is a huge value to a broader, diversified approach we take with the Trefis High Quality Portfolio. Separately, consider what the long-term performance for your portfolio could be if you combined 10% commodities, 10% gold, and 2% crypto with equities.

Here Is Why D-Wave Quantum Stock Moved

• Q3 2025 Earnings: Revenue doubled, beating estimates, and cash reserves surged. Stock fell after results.
• Warrant Redemption: Decision to redeem public warrants by Nov 19, 2025, caused a sharp stock selloff.
• Fed Rate Cut: Federal Reserve’s first 2025 rate cut on Sept 17 boosted innovation-driven sectors.
• European Expansion: €10M deal with Swiss Quantum Tech and Q-Alliance in Italy for Advantage2 systems.
• US Govt Deployment: D-Wave Advantage2 quantum computer available for US government at Davidson Tech.

Our Current Assesment Of QBTS Stock

Opinion: We currently find QBTS stock unattractive. Why so? Have a look at the full story. Read Buy or Sell QBTS Stock to see what drives our current opinion.

Risk: A good way to gauge risk is to see how QBTS performed during major market downturns. It plunged nearly 97% in the inflation shock, far worse than many other crashes. This shows that no matter how solid a stock looks on paper, steep losses can still happen. Even if other crises showed smaller declines, such a sharp drop reminds us that risk is always present when markets turn sour.

QBTS stock may have seen strong gains recently, but investing in a single stock without detailed, thorough analysis can be risky. The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.