D-Wave (QBTS) Extends Fall on Day 5 on Market Pessimism, Warrant Redemption

We recently published Market Shockers: 10 Stocks Collapse by Double Digits. D-Wave Quantum Inc. (NYSE:QBTS) is one of the best performers on Wednesday.

D-Wave Quantum fell for a 5th straight session on Wednesday, dropping 15.22 percent to close at $27.29 apiece as investors unloaded positions amid an overall market pessimism, while digesting the redemption of its outstanding warrants.

This followed announcements earlier this week that it would officially redeem its 5 million outstanding warrants, which are exercisable for conversion into shares, cash, or both, until November 19, 2025.

“If all of the outstanding warrants are exercised, approximately 7.2 million shares of common stock will be issued that will result in less than 2.1 percent dilution to existing shareholders,” D-Wave Quantum Inc. (NYSE:QBTS) said.

Meanwhile, any unexercised warrant will be redeemed for $0.01 apiece upon expiration, in accordance with the terms of the company’s warrant agreement.

In other news, D-Wave Quantum Inc. (NYSE:QBTS) said it recently partnered with Swiss Quantum Technology SA for the deployment of a D-Wave Advantage2 annealing quantum computer in Europe.

The agreement represents a 10 million euro commitment from Swiss Quantum, with an option to purchase the system.

While we acknowledge the potential of QBTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.