D-Wave Quantum Skyrocketed Today. Is the Stock a Buy?

D-Wave Quantum (NYSE: QBTS) stock recorded another day of explosive gains in Thursday's trading. The quantum-computing company's share price climbed 13.7% in the daily session amid the backdrop of a 0.5% gain for the S&P 500 and a 0.7% gain for the Nasdaq Composite. The stock had been up as much as 15.5% earlier in trading.D-Wave Quantum stock continued to surge higher despite little in the way of business-specific news for the company. News that Denmark has aspirations to host the world's most powerful quantum computer pointed to the potential for a big increase in state-level support for the industry, but it was otherwise a relatively slow news day for quantum stocks. That didn't stop companies in the space from seeing big valuation gains, and expectations that the Federal Reserve will issue multiple interest rate cuts helped support share price expansions. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool