D-Wave Quantum (QBTS) Loses 10% on Warrant Redemption, Stock Dilution

We recently published 10 Stocks With Massive Losses; AI Stocks Not Spared. D-Wave Quantum Inc. (NYSE:QBTS) is one of the worst performers on Monday.

D-Wave Quantum extended its losing streak to a third straight day on Monday, losing 10.25 percent to close at $34.40 apiece as investors sold off positions following the official redemption of its outstanding warrants.

In a statement, D-Wave Quantum Inc. (NYSE:QBTS) said that approximately 5 million warrants are currently outstanding and exercisable 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 risk and potential of QBTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QBTS and that has 10,000% upside potential, check out our report about this cheapest 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.