TLDR
- D-Wave rang the Nasdaq Opening Bell on July 27, marking its transfer from the NYSE under the same QBTS ticker
- The stock closed at $16.21 on Friday, down 38% year-to-date
- The exchange move involved no new capital raise, financial results, or changes to share structure
- August 6 earnings report is the next major catalyst, with investors watching revenue and cash flow
- Analysts hold a Strong Buy consensus with an average price target of $38.27, implying ~135% upside
D-Wave Quantum (QBTS) officially began trading on Nasdaq on July 27, 2026, after completing its voluntary transfer from the New York Stock Exchange. CEO Dr. Alan Baratz and the management team rang the Opening Bell at the Nasdaq MarketSite in Times Square to mark the occasion.
The stock opened at $16.23 on Monday. QBTS closed at $16.21 on Friday, and is down 38% year-to-date. The 12-month range sits between $12.75 and $46.75.
To complete the transfer, D-Wave filed a Form 25 to withdraw from the NYSE and a Form 8-A to register on Nasdaq. Trading on the NYSE ended after the July 24 close, with Nasdaq trading kicking off July 27 under the existing ticker.
The move is administrative in nature. It does not include new financial results, a capital raise, or any change to the company’s share structure.
What the Nasdaq Move Actually Changes
The Nasdaq listing may improve the company’s visibility among tech-focused investors, but it does not alter D-Wave’s revenue, cash flow, or demand for its quantum systems.
D-Wave describes itself as the only dual-platform quantum computing company, offering both annealing and gate-model systems. The Nasdaq transfer, it says, marks the start of its “next stage of growth.”
Institutional interest has been ticking up. Allspring Global Investments raised its position by 319.3% in Q1, adding 75,198 shares for a total of 98,747. Several other funds also added to positions in Q4.
On the insider side, CEO Alan Baratz sold 687,627 shares on June 8 at an average of $26.13, reducing his position by 17.25%. VP Sophie Ames sold 23,025 shares in May at $18.98. Insiders have sold a combined $35.7 million worth of stock over the past three months.
August 6 Earnings Are the Real Event
The exchange move is done. Now all eyes turn to the August 6 earnings report.
In Q1, D-Wave reported EPS of -$0.05, beating the -$0.08 consensus estimate. Revenue came in at $2.86 million, missing the $4.19 million estimate and down 80.9% year-over-year.
Investors will be looking for signs that commercial activity is picking up — revenue, bookings, customer wins, and cash burn will all be in focus.
Analysts remain bullish. The stock holds a Strong Buy consensus from 13 analyst ratings, with 12 Buys and 1 Hold. The average price target is $38.27, implying roughly 135% upside from current levels.
Canaccord Genuity has a $41 target. Rosenblatt and Cantor Fitzgerald both sit at $43. Mizuho raised its target from $29 to $35 in June with an Outperform rating.
D-Wave’s market cap currently sits at $6.01 billion, with a debt-to-equity ratio of 0.03 and a beta of 2.11.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
