On May 28, D-Wave Quantum declined 5.06% overnight, trading at $26.09/share, with trading volume of $3.24 million. The stock extended its multi-day pullback as selling pressure persisted following the sharp rally driven by CHIPS and Science Act funding news.

On the news front, D-Wave previously announced signing a preliminary agreement with the U.S. Department of Commerce to receive up to $100 million in funding under the CHIPS and Science Act to accelerate quantum computing R&D and commercialization. The policy catalyst propelled shares from approximately $19 to nearly $30 between May 21-22. With the positive news now fully priced in, profit-taking has continued to weigh on the stock over consecutive sessions. Additionally, Q1 fundamentals remain a concern — revenue came in at approximately $2.86 million, down roughly 81% year-over-year, while operating expenses doubled to $56.5 million and net losses widened to $18.36 million.

D-Wave Quantum is a pioneer in quantum computing, offering full-stack solutions including quantum computing systems, software, and services, with a focus on commercial-grade quantum application deployment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)