How Low Can QBTS Stock Go?

Company Overview - D-Wave Quantum is currently valued at $7.7 billion, with a revenue of $24 million and trading at $25.08 [2] - The company has experienced a revenue growth of 156.2% over the last 12 months, but has an operating margin of -355.2% [2] Stock Performance - D-Wave Quantum stock has declined by 24.2% over the past 21 trading days, raising concerns about its speculative valuation and ongoing operating losses [2] - The stock has a P/E multiple of -21.2 and a P/EBIT multiple of -21.3, indicating moderate operational performance and a very high valuation, branding the stock as unattractive [3] Downturn Resilience - The stock has performed significantly worse than the S&P 500 index during various economic downturns, both in terms of the extent of decline and the speed of recovery [4] - From a high of $12.40 on August 9, 2022, the stock fell 96.7% to $0.41 by May 12, 2023, while the S&P 500 experienced a peak-to-trough decline of 25.4% [8] - The stock fully recovered to its pre-crisis peak by May 19, 2025, and reached a high of $44.78 on October 15, 2025, before trading at $25.08 [8]