D-Wave Quantum: B. Riley Securities Raises PT to $33, Maintains Buy Rating

D-Wave Quantum: B. Riley Securities Raises PT to $33, Maintains Buy Rating

D-Wave Quantum (QBTS) saw its stock price fluctuate following a significant announcement by the company on Sunday. B. Riley Securities has raised its price target for D-Wave Quantum to $33, maintaining a buy rating Quantum computing stocks pare off last week's gains amid Quantum's private placement^[1]. This move comes after D-Wave Quantum entered into agreements with institutional investors for a $500 million oversubscribed private placement, which led to a 6% decline in its stock price on Monday Quantum computing stocks pare off last week's gains amid Quantum's private placement^[1].

The private placement, which involved the purchase and sale of 26.9 million common shares, was oversubscribed, indicating strong investor interest in the company's future prospects. However, the stock market reacted negatively to the news, with shares of D-Wave Quantum falling by nearly 6% on Monday. This decline was part of a broader trend affecting quantum computing stocks, which saw significant gains last week before paring off their gains on Monday Quantum computing stocks pare off last week's gains amid Quantum's private placement^[1].

In contrast, some other quantum computing stocks, such as Quantum Co. (QMCO), seemed to buck the trend and climbed about 2%. The overall market sentiment towards quantum computing stocks remains mixed, with investors weighing the potential long-term benefits against the current uncertainties and market volatility.