New York, January 21, 2026, 14:19 EST — Regular session
- D-Wave shares dropped in afternoon trading following an SEC filing linked to a sizable stock block.
- D-Wave closed its Quantum Circuits acquisition on Jan. 20, prompting the resale registration.
- Attention now turns to possible selling pressure and updates expected at the company’s Qubits 2026 event next week.
Shares of D-Wave Quantum Inc. dropped $1.79, or roughly 6.6%, to $25.25 in Wednesday afternoon trading following the company’s filing for a possible resale of stock tied to its Quantum Circuits acquisition. During the session, the stock fluctuated between $24.75 and $28.13.
A prospectus supplement dated Jan. 20 allows certain selling stockholders to resell up to 10,430,444 common shares. This filing clears a technical obstacle for those holders, although D-Wave stated it won’t receive any proceeds and has no information on if, when, or how many shares might be sold. (SEC)
D-Wave finalized its acquisition of Quantum Circuits on Jan. 20, handing over 10,430,444 shares plus $250 million in cash, subject to adjustments, per an 8-K filing. The company also signed a registration rights agreement linked to the stock portion of the deal. (SEC)
That combination — a major stock element alongside a new resale registration — can drag on sentiment for a name that often moves on headlines. While a resale registration doesn’t mean new shares are being issued, it can still cast a shadow over the price when early investors gain a clear exit path.
D-Wave announced that Quantum Circuits brings error-corrected, superconducting “gate-model” systems to the table — the circuit-based method common in most universal quantum computers — alongside D-Wave’s existing commercial “annealing” machines, which focus on optimization tasks. CEO Alan Baratz described the acquisition as a “watershed moment.” Quantum Circuits co-founder Rob Schoelkopf added the merged entity will leverage D-Wave’s scaling expertise alongside a “hardware-efficient” strategy for quantum error correction. The company plans to outline its roadmap at Qubits 2026, scheduled for Jan. 27-28 in Boca Raton, Florida. (Dwavequantum)
The sell-off hit more than just IonQ, which dropped about 9%. Rigetti Computing also slid nearly 9%, while Quantum Computing Inc. lost roughly 8% during afternoon trading in the U.S.
The real question is how Quantum Circuits shareholders decide to act—and how fast. Should their shares flood the market amid soft demand for speculative tech, D-Wave might face more volatile intraday swings, even if nothing changes on the business front.
Investors will be watching closely to see how the company manages the cash part of the deal alongside its spending demands in a still-developing, unpredictable market for quantum hardware and services.
Traders are keeping an eye out for further disclosures related to the registration rights, along with clues about integration and product schedules. The next key date is D-Wave’s Qubits 2026 event, set for Jan. 27-28.
