Recent financial results reveal the early-stage nature of D-Wave's business model. The company's core quantum computing service revenue grew 41% year over year in Q3 2024, highlighting the increasing adoption of its platform. However, total revenue declined 27% to $1.9 million due to timing variations in professional services contracts.

Investors and traders will take their cue from the round numbers. The stock is likely to break back below $10 followed by a decline to $7.50 and then possibly $5. Each of these price levels will see investors and traders step in to “Buy the Dip” on the way down.

Quantum computing stocks have been on fire over the past few months, but that all changed on Wednesday after Nvidia (NVDA -0.02%) CEO Jensen Huang said it will be 15 to 30 years b