Shares of D-Wave Quantum Inc. (QBTS) plummeted 5.19% in Wednesday's trading session, continuing the volatility seen in quantum computing stocks ahead of Nvidia's highly anticipated Quantum Day event. This significant drop follows a 3.4% decline observed on Tuesday, highlighting the ongoing turbulence in the quantum computing sector.
The sell-off in D-Wave Quantum comes as investors reassess their positions in quantum computing stocks, with some analysts warning of potential pump-and-dump schemes and short squeezes in the sector. The upcoming Nvidia GPU Technology Conference (GTC), which includes a dedicated Quantum Day, has created a mix of excitement and caution among investors in quantum-related companies.
While some quantum stocks saw gains in premarket trading on Wednesday, with companies like SEALSQ and Rigetti Computing rising, D-Wave Quantum's continued decline suggests that investors may be taking a more cautious stance on the company. The volatility is likely exacerbated by Nvidia's announcement of a new Boston-based Accelerated Quantum Research Center, which aims to integrate quantum hardware with AI supercomputers, potentially reshaping the competitive landscape in the quantum computing industry.
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