10 Stocks Got Wiped Out. Are You Holding Any?

5. D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave Quantum saw its share prices decline by 6.65 percent on Tuesday to close at $17.55 apiece as investors soured on the company’s announcement that the US was lagging behind other countries in quantum annealing.

Quantum annealing is a specific type of quantum computing for finding optimal solutions to optimization problems by leveraging quantum phenomena such as superposition and quantum tunneling.

D-Wave Quantum Inc.’s (NYSE:QBTS) comment followed the launch of its new quantum computer, said to be capable of solving problems beyond the capabilities of a classical GPU-based supercomputer.

Called the Advantage2, the new computer is capable of addressing real-world use cases in areas such as optimization, materials simulation, and artificial intelligence (AI).

Customers are now able to access the Advantage2 system through D-Wave Quantum Inc.’s (NYSE:QBTS) LeapTM real-time quantum cloud service, which is available in more than 40 countries and offers 99.9 percent availability and uptime, sub-second response times, and SOC 2 Type 2 compliance to meet enterprise needs and security requirements.