Why D-Wave Quantum Stock Is Sinking Today
Shares of D-Wave Quantum (NYSE: QBTS) are losing ground in Friday's trading following the release of preliminary second-quarter data. The quantum-computing specialist's stock was down 7.3% at noon ET, according to data from S&P Global Market Intelligence.
D-Wave Quantum published preliminary Q2 data before the market opened today. While the company expects substantial bookings growth, the early second-quarter results and forward guidance appear to have disappointed the market.
D-Wave reported total bookings of $2.5 million in the second quarter, representing 146% growth year over year (YOY). Revenue is projected to come in between $1.65 million and $1.8 million. While these figures suggest strong YOY momentum, there are also signs of significant growth deceleration in the data.
Source Fool.com
