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Markets · Investing · Business
Finance
Why D-Wave Quantum Stock Popped Today
D-Wave Quantum stock may be worth buying -- unless you like to invest in profitable companies.
D-Wave Quantum (NASDAQ: QBTS) stock soared 10.7% through 3:10 p.m. ET Monday after investment bank Wedbush assumed coverage of the stock with an outperform rating and $40 price target.
Image source: Getty Images.
Although valued at $6.7 billion in market capitalization, D-Wave is not profitable. It barely has even revenue -- just $12.4 million generated over the past 12 months. And yet, Wedbush argues today in a note covered by TheFly.com that "companies in the quantum computing market are defined by the solving of engineering and physics R&D challenges through successful execution against technology roadmap milestones," rather than by revenue and profit alone.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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