Qbts short interest

The short interest of D-Wave Quantum Inc. (NYSE:QBTS) has shown significant fluctuations over the past months. Here's a detailed analysis:

1. Current Short Interest: As of August 31, 2024, the total short interest stands at 14,050,000 shares. This represents a substantial decrease from the peak of 17,180,000 shares on August 15, 2024, indicating a decline of 18.2%.
2. Recent Trends:
   • July 2024: The short interest grew by 59.5% from June 30 to July 15, reaching 11,310,000 shares.
   • August 2024: The short interest dropped by 18.2% from August 15 to August 31.
3. Comparison with Peer Group: D-Wave Quantum has a higher short interest percentage than its peer group average, with 9.4% of its stock sold short. This suggests that despite the recent decline, D-Wave Quantum still has a notable short interest.
4. Market Sentiment: The days-to-cover ratio, based on an average trading volume of 3,870,000 shares, is currently at 3.6 days. This indicates that while the stock is not extremely heavily shorted, there is still a significant amount of shares sold short relative to the company's float.
5. Investor Perception: The stock's price has experienced volatility, with a trading volume of 1,773,150 shares on the day it traded up $0.01 to $1.01, indicating investor activity and potential market skepticism.

In summary, while the recent short interest in D-Wave Quantum has decreased from a peak in August, it remains above average compared to its peers, suggesting that despite some positive developments, there is still a significant portion of the company's stock sold short, which could indicate ongoing market skepticism or bearish sentiment.