Movement Alert|D-Wave Quantum Inc. Falls 5.03% in Regular Trading, NYSE-to-Nasdaq Listing Transfer Takes Effect

Market Focus
Jul 24

On July 24, D-Wave Quantum Inc. fell 5.03% in regular trading, trading at $16.445/share, with turnover of $43.73 million.

On the news front, D-Wave Quantum previously announced the voluntary transfer of its common stock listing from the New York Stock Exchange to Nasdaq, with the transfer becoming effective after market close on July 24. The company's shares are expected to begin trading on Nasdaq on July 27 under the existing ticker symbol \"QBTS.\" The listing transition date triggered heightened volatility as investors repositioned ahead of the exchange change.

D-Wave Quantum announced the transfer decision on July 14. The company is a pioneer in quantum computing, offering full-stack quantum computing systems, software, and services. Earlier, Mizuho Securities raised its price target on the stock to $35, while B. Riley raised its target to $40, both maintaining bullish ratings based on the company's dual-platform development strategy and long-term revenue potential from quantum-computing-as-a-service.

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