Why D-Wave Quantum Stock Jumped Nearly 50% Last Month

Shares of D-Wave Quantum (QBTS) surged nearly 49% in May. While the stock was caught up in the larger market rally -- the S&P 500 jumped 5.15% in May while the Nasdaq Composite soared 8.36% -- a major announcement from the federal government sent shares flying.The biggest catalyst came later in the month from the U.S. Department of Commerce, which announced it will invest $2 billion in the quantum industry under the CHIPS and Science Act. Nine quantum computing companies -- including D-Wave -- will receive funds. The government and D-Wave signed a letter of intent for a $100 million investment in exchange for an equity stake.The market's reaction to the news was immediate. D-Wave stock surged over 33% that day alone, as investors digested the news of such a large investment from the federal government.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool