Why D-Wave Quantum Inc. (QBTS) Crashed Last Week

We recently published a list of These 10 Stocks Just Rocked The Market. In this article, we are going to take a look at where D-Wave Quantum Inc. (NYSE:QBTS) stands against other stocks that just rocked the market.

D-Wave Quantum dropped its share prices by 13 percent week-on-week as investors sold off positions amid the lack of fresh catalysts, while taking profits from last week’s gain, boosted by the launch of its new quantum computer capable of solving complex problems beyond the reach of classical computers.

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).

A modern computer datacenter, running an advanced quantum computer system.

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.

Additionally, last week’s performance was dampened by the company’s comment that the US was already 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.

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