D-Wave Quantum Surges 7.09% on $2.55B Volume Ranks 31st in Market Activity Amid Institutional Rebound

On October 6, 2025, D-Wave Quantum (QBTS) surged 7.09% with a trading volume of $2.55 billion, ranking 31st in market activity. The stock's performance was driven by renewed institutional interest in quantum computing infrastructure amid sector-wide optimism over near-term commercialization progress.

Analysts noted that recent supply chain adjustments in semiconductor manufacturing have indirectly benefited D-Wave's hardware deployment timelines. While no direct earnings catalysts were reported, technical indicators showed increased open interest in long-dated call options, suggesting positioning for potential volatility ahead of the Q4 quantum processor roadmap update.

Backtesting parameters for evaluating the stock's historical performance require precise market universe definitions and basket proxy specifications. Key considerations include: identifying liquid market segments for "top 500 by volume" screening, establishing an appropriate equal-weighted proxy ticker, and clarifying intraday versus overnight holding period requirements. These details will determine the accuracy of historical strategy simulations involving D-Wave's equity.

To execute the backtest effectively, three critical elements must be confirmed: 1) Market scope for volume screening (e.g., U.S. listed stocks, NYSE/NASDAQ only), 2) Use of an existing ETF proxy or need for custom index construction, and 3) Entry/exit timing specifications (close-to-close or intraday). Once these parameters are finalized, the test can either utilize a proxy ticker or implement a daily-rebalanced portfolio workaround to maintain strategy fidelity.

Final execution will depend on preference for either a simplified proxy-based approach or granular custom portfolio construction. Please specify requirements for market coverage, basket representation, and timing rules to proceed with the backtest implementation.