Why D-Wave could jump another 50%: Key figures to watch

D-Wave Quantum Inc. (NYSE: QBTS) has been on a tear this past week, gaining over 40% in just five trading days as investors react to the company’s bold claim of achieving “quantum supremacy” on a real-world problem.

D-Wave stock performance over the last 5 days

• March 7: The stock traded around $4.50 with relatively low volume.
• March 8-9: After the weekend, QBTS saw some early gains but remained below $5.00.
• March 10: News of the company’s “quantum supremacy” breakthrough began circulating, sending shares to an intraday high of $5.88, closing at $5.38 (+9.5%).
• March 11: The rally cooled slightly as skeptics debated the claim, but buyers remained active.
• March 12: Momentum returned in full force, with the stock closing at $5.82, up 8.18%, and extending gains in after-hours trading to $6.18 (+6.19%).

In total, D-Wave’s stock has jumped from around $4.50 to over $6.00 in just five days—an increase of more than 40%.

What is driving the surge?

D-Wave announced that its Advantage2 quantum processor successfully solved a materials simulation problem in 20 minutes, a task that would take one of the world’s fastest classical supercomputers over 1 million years. If validated, this would mark a significant milestone in the race for practical quantum computing applications. Unlike previous “quantum supremacy” claims, which focused on abstract computational benchmarks, D-Wave asserts its achievement has real-world industrial implications, particularly in materials discovery.

How high could the D-Wave stock go?

If D-Wave’s claims hold up and lead to new commercial deals or partnerships, the stock could see further gains. Given the current momentum, we see a potential upside of 40-50% from current levels, implying a possible price target of $8.50-$9.00 in the near term.

Here’s why:

• Quantum computing stocks have a history of explosive moves after major breakthroughs.
• D-Wave is currently trading at $6.18 pre-market, and its 52-week high is $11.41, meaning there is room for a continued run.
• Past examples:
  • Google’s quantum supremacy claim (2019): Alphabet (GOOGL) surged over 12% in the following weeks.
  • IonQ (IONQ) after a major quantum computing breakthrough (2021): Shares jumped over 150% in one month.
  • Rigetti (RGTI) partnership news (2023): Stock climbed 50% in just a few days before settling.

D-Wave’s recent rally shows strong investor enthusiasm, but as always, skepticism remains. Researchers from institutions like NYU and EPFL have challenged similar claims in the past, arguing that advanced classical computing techniques can sometimes replicate quantum breakthroughs. That said, if D-Wave’s results hold up and lead to real-world adoption, the stock could continue its impressive run.

Featured image credit: D-Wave