Why Shares of D-Wave Quantum Are Sinking This Week
Since last Friday, shares of D-Wave Quantum (NYSE: QBTS) fell nearly 15% as of the market close on Thursday. The stock also traded lower on Friday. While the quantum computing sector experienced some good news this week, D-Wave also announced an at-the-market (ATM) stock offering to potentially raise new capital.D-Wave's ATM offering is with several brokerages and investment banks and will allow the company from time to time to conduct the "issuance and sale" of common stock for up to $400 million. The word issuance indicates that new shares could be offered to raise capital, which would be dilutive to existing shareholders.Continue reading
Since last Friday, shares of D-Wave Quantum (NYSE: QBTS) fell nearly 15% as of the market close on Thursday. The stock also traded lower on Friday. While the quantum computing sector experienced some good news this week, D-Wave also announced an at-the-market (ATM) stock offering to potentially raise new capital.
D-Wave's ATM offering is with several brokerages and investment banks and will allow the company from time to time to conduct the "issuance and sale" of common stock for up to $400 million. The word issuance indicates that new shares could be offered to raise capital, which would be dilutive to existing shareholders.
