On July 28, D-Wave Quantum Inc. fell 6.15% in regular trading, trading at $17.565/share, with turnover of $124 million. The decline follows a sharp pullback from the prior session's AT&T partnership-driven rally.

On July 27, D-Wave announced an expanded agreement with telecom giant AT&T to deploy its quantum annealing technology for complex network optimization challenges, including network planning, traffic management, and fault diagnostics. The stock surged as much as 18% intraday on the news but closed with gains narrowing significantly to just 3.4%. AT&T disclosed that its integration of D-Wave technology had already reduced task processing times from approximately one hour to under 15 seconds. Additionally, Benchmark initiated coverage on D-Wave with a Buy rating and a $30 price target on the same day.

The current decline appears driven by profit-taking as the partnership catalyst dissipated. The stock had already fallen for five consecutive weeks prior, with a year-to-date cumulative decline exceeding 35%.

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