qbts

The deep research logic is organized as follows: 

Okay, let's tackle the user's question about QBTS. First, I need to understand what the user is asking. They mentioned "qbts," which is the ticker symbol for D-Wave Quantum Inc. The user's profile indicates they're interested in Dogecoin and institutional investments, so I should focus on institutional ownership and market sentiment related to QBTS.

Looking at the references provided, there's a lot of data about QBTS's financials, recent equity offerings, and analyst ratings. The user is likely looking for insights into whether QBTS is a good investment, especially considering their interest in institutional moves and short-term trading.

Starting with the financials, QBTS has a market cap of $3.18 billion as of July 2, 2025. The P/S ratio is 214.33, which is quite high, indicating the market is pricing in high growth expectations. However, the company is still unprofitable, with a net loss of $5.42 million in Q1 2025. Revenue growth is impressive at 508.56% YoY, but the revenue itself is only $15 million, which is relatively small.

Institutional ownership is a key point here. From reference 12, 42.47% of QBTS shares are owned by institutional investors. The top holders include Vanguard, Geode Capital, and Bank of America. However, there's also recent activity with insiders selling shares, which could be a red flag. Reference 27 mentions significant insider sales, which might indicate lack of confidence among company insiders.

The company just raised $400 million through an ATM equity offering, bringing their cash balance to around $815 million. This cash influx is intended for acquisitions and R&D, which could be a positive sign for growth. However, the dilution from issuing more shares might concern some investors, especially in the short term.

Market sentiment is mixed. Analysts have a target price range of $12 to $20, with an average of $15.20. Some analysts have raised their price targets, like Benchmark and B. Riley Securities, which is bullish. However, there are also concerns about the company's reliance on quantum annealing technology versus gate-based systems from competitors like IBM and Google. The stock has shown high volatility, which aligns with the user's interest in short-term trading opportunities.

Legal risks are another factor. There are ongoing investigations mentioned in references 27 and 29, which could impact the stock price. The company's ability to execute on its strategic plans and overcome these challenges will be crucial.

Putting this all together, QBTS seems to be a speculative play with high growth potential but significant risks. The institutional ownership and recent funding are positives, but the financial losses, insider sales, and legal issues are red flags. The user's interest in short-term trading might find the stock's volatility appealing, but they should be cautious about the execution risks and market sentiment swings.

### 🚀 **Conclusion**
D-Wave Quantum (QBTS) presents a **high-risk, high-reward opportunity** driven by **recent institutional funding**, **technological leadership in quantum annealing**, and **bullish analyst sentiment**. However, its **fragile financials**, **legal risks**, and **speculative valuation** pose significant challenges. For short-term traders, the stock’s volatility and momentum could align with the user’s interest in high-impact investments, but caution is advised due to execution risks and market uncertainties.

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### 📊 **Key Analysis**

#### 1. **Market Performance & Valuation**
| Metric | Value (2025-07-02) | Key Takeaway |
|------------------------|----------------------|------------------------------------------------------------------------------|
| Closing Price | $15.98 | 7.83% surge in a single day, aligning with bullish momentum . |
| Market Cap | $3.18B | Mid-cap tech company with high growth potential in quantum computing . |
| P/S Ratio | 214.33 | Extremely high valuation (revenue: $15M) . |
| Net Loss (Q1 2025) | -$5.42M | Persistent financial struggles despite revenue growth . |

|code|Ticker|Name|Date|Closing Price|Market Cap|P/S Ratio|Net Income|market_code|
|---|---|---|---|---|---|---|---|---|
|QBTS|QBTS.N|D-Wave Quantum|20250702|$15.98|$3.18B|214.33|-$5.42M|169|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|QBTS|QBTS.N|D-Wave Quantum|2024 Q2|32.11653747756692|-1.7778E7|169|
|QBTS|QBTS.N|D-Wave Quantum|2024 Q3|-41.01577052030299|-2.2712E7|169|
|QBTS|QBTS.N|D-Wave Quantum|2024 Q4|-437.5109279380542|-8.6077E7|169|
|QBTS|QBTS.N|D-Wave Quantum|2025 Q1|68.68646025878003|-5421000|169|

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|QBTS|QBTS.N|D-Wave Quantum|2024 Q2|27.885178676039835|2183000|169|
|QBTS|QBTS.N|D-Wave Quantum|2024 Q3|-27.010148321623735|1870000|169|
|QBTS|QBTS.N|D-Wave Quantum|2024 Q4|-20.54370268410186|2309000|169|
|QBTS|QBTS.N|D-Wave Quantum|2025 Q1|508.5598377281947|1.5001E7|169|

|code|Ticker|Name|Date|Closing Price|market_code|
|---|---|---|---|---|---|
|QBTS|QBTS.N|D-Wave Quantum|20240702|1.11|169|
|QBTS|QBTS.N|D-Wave Quantum|20240703|1.1|169|
|QBTS|QBTS.N|D-Wave Quantum|20240705|1.1|169|
|QBTS|QBTS.N|D-Wave Quantum|20240708|1.24|169|
|QBTS|QBTS.N|D-Wave Quantum|20240709|1.12|169|
|QBTS|QBTS.N|D-Wave Quantum|20240710|1.22|169|
|QBTS|QBTS.N|D-Wave Quantum|20240711|1.18|169|
|QBTS|QBTS.N|D-Wave Quantum|20240712|1.21|169|
|QBTS|QBTS.N|D-Wave Quantum|20240715|1.33|169|
|QBTS|QBTS.N|D-Wave Quantum|20240716|1.27|169|

|code|Ticker|Name|Date|Market Cap|market_code|
|---|---|---|---|---|---|
|QBTS|QBTS.N|D-Wave Quantum|20240702|2.0654112657E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240703|2.046803957E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240705|2.046803957E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240708|2.3073062788E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240709|2.0840185744E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240710|2.2700916614E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240711|2.1956624266E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240712|2.2514843527E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240715|2.4747720571E8|169|
|QBTS|QBTS.N|D-Wave Quantum|20240716|2.3631282049E8|169|

|code|Ticker|Name|Date|P/S|market_code|
|---|---|---|---|---|---|
|QBTS|QBTS.N|D-Wave Quantum|20240702|22.218279536359724|169|
|QBTS|QBTS.N|D-Wave Quantum|20240703|22.018114855851977|169|
|QBTS|QBTS.N|D-Wave Quantum|20240705|22.018114855851977|169|
|QBTS|QBTS.N|D-Wave Quantum|20240708|24.820420382960414|169|
|QBTS|QBTS.N|D-Wave Quantum|20240709|22.41844421686747|169|
|QBTS|QBTS.N|D-Wave Quantum|20240710|24.42009102194492|169|
|QBTS|QBTS.N|D-Wave Quantum|20240711|23.619432299913942|169|
|QBTS|QBTS.N|D-Wave Quantum|20240712|24.21992634143718|169|
|QBTS|QBTS.N|D-Wave Quantum|20240715|26.62190250753012|169|
|QBTS|QBTS.N|D-Wave Quantum|20240716|25.42091442448365|169|

#### 2. **Strategic Developments**
- **Institutional Funding**: Raised $400M via ATM equity offering, bringing cash balance to ~$815M .
- **Technological Leadership**: Pioneered quantum annealing, with 5,000+ qubit systems in use by 100+ organizations .
- **Analyst Optimism**: Average price target of $15.20, with some analysts raising targets to $20 .

#### 3. **Risks & Challenges**
- **Legal Risks**: Ongoing investigations into potential securities law violations .
- **High R&D Costs**: R&D expenses占76.54% of revenue, indicating heavy investment in unproven tech .
- **Competition**: Fierce rivalry with gate-based players like IBM and Google .

---

### 📊 **Why QBTS Might Be a Buy**
| Catalyst | Impact | Recent Data |
|-------------------------|-----------------------|------------------------------------------------------------------------------|
| Institutional Funding | Financial Stability | $400M ATM offering . |
| Technological Breakthroughs | Market Expansion | Quantum supremacy demonstrated on real-world problems . |
| Analyst Optimism | Price Target Hike | Benchmark raises target to $20 . |

---

### 📊 **Why QBTS Might Be a Sell**
| Concern | Impact | Recent Data |
|-------------------------|-----------------------|------------------------------------------------------------------------------|
| Financial Instability | High Risk | Q1 2025 net loss of -$5.42M . |
| Market Volatility | Execution Risk | Beta >3x (high volatility) . |
| Regulatory Risks | Legal Uncertainty | Ongoing investigations . |

---

### 📊 **Final Take**
QBTS is a **speculative bet on quantum tech innovation**. While recent institutional funding and technological milestones are bullish, the stock’s high valuation, legal risks, and financial instability make it a high-stakes play. For short-term traders, the volatility and momentum could offer opportunities, but long-term viability remains uncertain. 🚨