Why D-Wave Quantum Inc. (QBTS) Went Up On Thursday?

We recently published a list of 10 Firms Stand Out Amid Market Downturn. In this article, we are going to take a look at where D-Wave Quantum Inc. (NYSE:QBTS) stands against other firms that stand out amid market downturn.

Pessimistic sentiment persisted on the stock market on Thursday as investors moved to sell off shares in an effort to minimize risks from uncertainties brought about by President Donald Trump’s continued tariff threats and policy shifts.

The Dow Jones plunged 1.01 percent, the S&P 500 declined 0.43 percent, and the tech-heavy Nasdaq lost 0.47 percent.

Amidst the overall market downturn, 10 companies stood out, clocking in double-digit gains during the trading session, thanks to a flurry of positive catalysts including strong corporate earnings results.

To come up with Thursday’s top performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A modern computer datacenter, running an advanced quantum computer system.

D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) grew its share prices by 13 percent on Thursday to close at $7.39 apiece, as investors bought up on news of advancements in the quantum computing industry.

On Wednesday, technology giant Microsoft Inc. (NASDAQ:MSFT) introduced Majorana 1, the world’s first quantum chip powered by a new Topological Core architecture that is expected to support quantum computers’ capability of solving meaningful, industrial-scale problems in years, and not decades.

The optimism dribbled into quantum computing stocks, including QBTS.

The news followed QBTS’ announcement on Wednesday that it developed, along with Staque Solutions, a commercial hybrid-quantum application that would help accelerate computing solutions for agricultural decision-makers. It was expected to enhance agri robotics, farming sustainability, planning for ever-changing conditions, and most importantly, perk up crop production.

Overall, QBTS ranks 5th on our list of firms that stand out amid market downturn. While we acknowledge the potential of QBTS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than QBTS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.