D-Wave Quantum Inc. (QBTS) saw its stock surge 5.20% in a 24-hour period, continuing its upward momentum from earlier in the week. This latest jump comes amid a broader rally in quantum computing stocks, with several companies in the sector experiencing significant gains.
The rally appears to be fueled by D-Wave's recent unveiling of its newest quantum computer, the Advantage2. CEO Alan Baratz hailed the machine as "a significant milestone not just for D-Wave, but for the quantum computing industry as a whole." This announcement, made earlier in the week, has seemingly continued to drive investor enthusiasm for the stock.
Market sentiment towards D-Wave and other quantum computing companies remains bullish, as evidenced by options trading activity. On Thursday, D-Wave saw a notable increase in options contracts traded, with call options accounting for 68% of the overall trades. Particularly high volume was observed for the $30 strike call option expiring in June, indicating that some traders are betting on further upside for the stock in the near term.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.