D-Wave Quantum Inc. (QBTS) experienced a significant decline in its stock price on Thursday, with shares plummeting by 5.12% during the trading session.
The quantum computing company's stock took a hit after announcing the successful completion of a $150 million at-the-market equity offering program. While the equity offering provides D-Wave with additional capital to support its operations and technical development efforts, the dilution of existing shares may have been viewed negatively by investors, leading to the sharp drop in the stock's value.
Despite this setback, D-Wave remains optimistic about its prospects, highlighting its leadership in the commercialization of quantum computing and the deployment of customer applications in production. The company believes that the raised capital will enable it to execute its plan to achieve sustained profitability and positive cash flow.
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