Why D-Wave Quantum Stock Popped Today

D-Wave Quantum stock surged 10.7% after investment bank Wedbush initiated coverage with an outperform rating and $40 price target. Despite being unprofitable with only $12.4 million in annual revenue, Wedbush argues quantum computing companies should be valued on engineering and physics milestones rather than traditional profitability metrics. However, analysts forecast D-Wave will continue losing money through at least 2030 and may run out of cash by 2031.