D-Wave Extends (QBTS) Gains, Soars 14% on Govt Deal Targets

We recently published 10 Stocks With Effortless 14-25% Gains. D-Wave Quantum Inc. (NYSE:QBTS) is one of the best performers on Thursday.

D-Wave Quantum extended its winning streak to a third straight day on Thursday, jumping 14.55 percent to close at $28.73 apiece as investors continued to load positions following plans to ramp up contracts with the government.

In just the first four trading days of the month, the company has already seen its stock price jump by a whopping 27 percent.

The rally followed the formation of a new business unit solely focused on driving the adoption of quantum computing products and services with the US government.

According to D-Wave Quantum Inc. (NYSE:QBTS), the new subsidiary would be led by Jack Sears Jr., a seasoned government and public sector business executive.

In addition to his new leadership role, he would also join D-Wave Quantum Inc.’s (NYSE:QBTS) executive team and serve as its vice president for US government solutions.

“The call to use quantum technologies to address our nation’s interests is increasing, as the U.S. government faces complex challenges that require more powerful and agile problem-solving resources to protect our nation,” D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz said.

“By formalizing a US government-focused business unit under Jack’s leadership, we aim to facilitate the rapid development of quantum applications that address national security, defense, and infrastructure challenges,” he noted.

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.