D-Wave Quantum Plummeted Today -- Is the Stock a Buy Right Now?
D-Wave's valuation slumped as investors moved out of risky growth stocks today.
D-Wave Quantum Plummeted Today -- Is the Stock a Buy Right Now?
Overview
D-Wave Quantum (NYSE: QBTS) stock got hit with a substantial valuation contraction on Tuesday amid bearish momentum for the broader market. The company's share price ended the day down 8.9% in a session that saw the S&P 500's level decline by 0.3% and the Nasdaq Composite's level fall by 1%. Selling pressures had actually been far stronger earlier in the session, and D-Wave had been down as much as 13.5% at one point in the day.
The broader market fell in response to multiple catalysts today. For starters, investor confidence in the artificial intelligence trade is showing some signs of softening after what has otherwise been a strong bullish backdrop in 2026. Investors are also feeling jittery ahead of the Consumer Price Index (CPI) report from the Bureau of Labor Statistics that could play a big role in determining the Federal Reserve's next moves on interest rates. Anxieties surrounding the potential market-moving impact of SpaceX's initial public offering this coming Friday also pushed stocks lower.
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Originally published at www.fool.com.
