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QBTS Stock Pops As Wall Street Backs Quantum Momentum

MATT MONACO•UPDATED SEP. 8, 2026, 3:03 PM ET
Reviewed by Jack Kelloggand Fact-checked by Tim Sykes

D-Wave Quantum Inc. stocks have been trading up by 6.0 percent following upbeat coverage of its expanding quantum computing partnerships.

Key Takeaways

  • BMO Capital initiated coverage of D-Wave Quantum with an Outperform rating and a $35 price target, spotlighting its first-mover edge and commercial quantum revenues.
  • The company’s annealing technology now powers a second live NTT DOCOMO application, slashing key mobile network signals and underscoring real-world value.
  • Up to CAD $300,000 in fresh Canadian government funding backs next-gen annealing software and Zephyr embedding algorithms for the Advantage2 system.
  • Long‑time CFO John Markovich will retire on 2026/09/02, with senior VP of finance Greg Golkov stepping in as acting CFO amid assurances of no control disputes.
  • Veteran finance leader Kevan P. Krysler joins the Board and Audit Committee, adding public-company CFO and governance depth as D-Wave Quantum scales.

Candlestick Chart

Live Update At 15:02:43 EDT: On Tuesday, September 08, 2026 D-Wave Quantum Inc. stock [NASDAQ: QBTS] is trending up by 6.0%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Quick Financial Overview

QBTS has been trading like a classic momentum story wrapped inside a deep-tech speculation. Over the last two weeks, D-Wave Quantum Inc. has pulled back from the $20–$21 zone to the mid‑$17 area, but the bigger picture still shows an elevated, volatile range. Revenue over the last year came in around $24.6M, tiny by big-cap standards, yet QBTS commands an enterprise value near $256.9M. Traders are clearly paying for future potential, not current profits.

The problem, for now, is heavy losses. EBITDA for the latest quarter was about -$42.7M and free cash flow ran near -$33.1M. Margins are deeply negative across the board, even though gross margin is a strong 64.2%. That tells traders QBTS can price its quantum services well, but scale is nowhere near covering operating costs.

More Breaking News

On the balance-sheet side, D-Wave Quantum looks surprisingly sturdy for a speculative name. Cash and short-term investments total roughly $546.2M, with cash alone at about $296.6M, and current liabilities at only $27.3M. A current ratio over 20 gives QBTS ample runway to keep funding R&D and commercialization, which is exactly what momentum traders want to see in a high‑growth story.

Why Traders Are Watching QBTS Right Now

The near-term spark for QBTS was clear: BMO Capital just initiated coverage with an Outperform rating and a $35 price target. For a stock sitting in the high teens, that’s a bold call. BMO highlighted D-Wave Quantum’s “revolutionary” technology, existing commercial revenues, first-mover advantage, and dual-technology strategy. In plain English, a major bank just told the Street that QBTS is not a science project, but a potential real business at scale.

The market listened. After the BMO note, QBTS shares jumped about 7%, even on volume below the recent average. That kind of move on lighter flow tells traders how sentiment-driven this name is. When new institutional voices step in, the tape reacts fast.

Under the headlines, though, D-Wave Quantum Inc. is building something more durable. Its annealing-based quantum systems now power a second production application at NTT DOCOMO. Cutting peak location registration signals by roughly 65% and paging by about 7% in a large mobile network is not a lab demo. It’s real cost and efficiency impact for a Tier‑1 telco, and that matters for any trader tracking future contract wins.

Government support adds another layer. QBTS just secured up to CAD $300,000 from Canada’s National Research Council to push next‑gen annealing software, including Zephyr‑specific embedding algorithms integrated into the Ocean SDK. That funding is small in dollar terms, but symbolically big: national R&D backing reinforces the technology roadmap behind the Advantage2 system.

Overlay all of this with D-Wave Quantum’s upcoming appearances at the Needham Virtual Semiconductor & SemiCap Conference and the Deutsche Bank Technology Conference, and you have a clear visibility push. More institutions hearing the QBTS story means more potential liquidity and more eyes ready to chase the next headline spike.

Conclusion

For active traders, QBTS is the definition of a high‑risk, story-driven name. D-Wave Quantum Inc. sits at the intersection of bleeding‑edge tech and tiny current revenues, yet carries a sizable valuation because the market is trading the future, not the present. The bullish BMO initiation and $35 target validate that mindset and help explain why every positive catalyst can unleash sharp moves.

At the same time, traders need to respect the execution risk. The retirement of long‑time CFO John Markovich, effective 2026/09/02, is a reminder that leadership transitions can shake confidence. D-Wave Quantum is trying to offset that by elevating senior VP of finance Greg Golkov, who already runs accounting, SEC reporting, FP&A, treasury, and tax, and by adding seasoned finance executive Kevan P. Krysler to the Board and Audit Committee. That combination suggests continuity plus stronger governance, but the Street will still watch future quarters closely.

The chart shows QBTS pulling back from recent highs, consolidating in the mid‑$17s with tight intraday ranges around $17.50–$18.20. That’s classic digestion after a news pop. For short‑term traders, the key is to stalk the next catalyst — more DOCOMO wins, new enterprise deals, or fresh analyst coverage — while staying disciplined on risk.

As Tim Sykes likes to remind his community, “Volatile story stocks can be great trading vehicles, but only if you treat them like trades, cut losses quickly, and never fall in love with the hype.” In that same spirit of process-focused trading, As millionaire penny stock trader and teacher Tim Sykes, says, “Embrace the journey, the ups and downs; each mistake is a lesson to improve your strategy.”. QBTS fits that playbook perfectly right now. This coverage is for educational and research purposes only, and every trader should do their own homework before taking any position.

This is stock news, not investment advice. Timothy Sykes News delivers real-time stock market news focused on key catalysts driving short-term price movements. Our content is tailored for active traders and investors seeking to capitalize on rapid price fluctuations, particularly in volatile sectors like penny stocks. Readers come to us for detailed coverage on earnings reports, mergers, FDA approvals, new contracts, and unusual trading volumes that can trigger significant short-term price action. Some users utilize our news to explain sudden stock movements, while others rely on it for diligent research into potential investment opportunities.

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The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

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Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”