Shares of D-Wave Quantum Inc. (QBTS) experienced a sharp reversal in after-hours trading on Thursday, plummeting 5.09% following a remarkable 51% surge during the regular trading session. The volatile movement came in the wake of the company's better-than-expected first-quarter earnings report.
D-Wave Quantum, a leader in quantum computing systems, software, and services, reported a net loss of $0.02 per share for Q1, outperforming analysts' expectations of a $0.05 loss. The company's revenue also beat estimates, contributing to the initial positive market reaction. During regular trading hours, investors responded enthusiastically to these results, driving the stock to significant gains.
However, the after-hours decline suggests a potential correction as traders reassess the stock's valuation following the day's substantial rise. The sharp reversal might indicate profit-taking by short-term investors who capitalized on the intraday rally. As the market digests the full implications of D-Wave's earnings report, the stock's performance in the coming days will be closely watched by investors in the quantum computing sector.
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