D-Wave (QBTS) Sheds 8.68% on Profit-Taking, Debunked Talks with Govt

Core Insights - D-Wave Quantum Inc. (NYSE:QBTS) experienced a significant decline in share price, dropping 8.68% to close at $32 due to profit-taking after three consecutive days of gains [1][3] - The initial surge in quantum firm shares, including D-Wave, was driven by optimism regarding potential government investment, which was later dampened by the Commerce Department's denial of negotiations with quantum computing companies [2][3] Company Performance - D-Wave Quantum's stock performance on Tuesday was notably poor, marking it as one of the worst performers in the market [1] - The company is scheduled to release its third quarter earnings results in the second week of November, which may impact future stock performance [4] Market Context - The optimism surrounding quantum firms was linked to a report suggesting the Trump administration's interest in investing in the quantum computing sector, with firms reportedly seeking $10 million in funding for government equity stakes [2][3]