Why D-Wave Quantum Inc. (QBTS) Went Up On Wednesday?

We recently published a list of 10 Stocks Stand Strong Amid Cautious Market Environment. In this article, we are going to take a look at where D-Wave Quantum Inc. (NYSE:QBTS) stands against stocks that stand strong amid cautious market environment.

The stock market showed resilience on Wednesday, with all major indices ending in the green territory anew, as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.

The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.

Despite the news, ten companies managed to stand out, posting modest gains during the trading session.

To come up with Wednesday’s top performers, we considered only the stocks with more than $1.9 billion in market capitalization and $5 million in daily trading volume.

Note that some stocks we have covered in-depth over the past few days have been excluded from this list.

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

D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) saw its share prices increase by 8.28 percent on Wednesday to close at $6.54 apiece as investors bought up on news that it developed, along with Staque Solutions, a commercial hybrid-quantum application that would help accelerate computing solutions for agricultural decision-makers to enhance agri robotics, farming sustainability, planning for ever-changing conditions, and most importantly, perk up crop production.

With the use of quantum technology, decision-making in agriculture is expected to transform, innovate, and replace traditional computation methods which typically take days to weeks.

“This strategic partnership with D-Wave will allow us to provide annealing quantum computing solutions with the speed and accuracy that is important for the agriculture industry,” said Staque COO Krishna Ganesh.

The companies said they expect quantum-optimized solutions to increase crop production, drive efficiencies, and lower farming costs.

Overall, QBTS ranks 9th on our list of stocks that stand strong amid cautious market environment. While we acknowledge the potential of QBTS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than QBTS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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