D-Wave Quantum: The Next 10-Bagger Stock?
D-Wave Quantum (NYSE: QBTS) went public through a merger with a special purpose acquisition company (SPAC) in August 2022. While the stock has been highly volatile across its public-trading history, it's still up roughly 143% since market close on the day of its debut. This performance comes in significantly ahead of the S 500's and Nasdaq Composite's respective total returns of 63% and 80% across the same stretch.
D-Wave's focus on quantum annealing technologies has seemingly given it an easier path to scaling commercialization, compared to some other players in the category. The company's valuation has seen strong bullish momentum over the last year as interest in quantum computing has surged. As of this writing, the stock is up 235% over the last 12 months.
Does D-Wave have what it takes to deliver 10x returns from its current pricing level, or is the stock already too richly valued?
Source Fool.com
