New York, January 21, 2026, 14:19 EST — Regular session
- D-Wave shares slipped in afternoon trading after an SEC filing revealed a large block of stock.
- D-Wave finalized its acquisition of Quantum Circuits on Jan. 20, triggering the resale registration.
- All eyes shift to potential selling pressure as the company prepares updates for its Qubits 2026 event next week.
D-Wave Quantum Inc. shares fell $1.79, about 6.6%, sliding to $25.25 in Wednesday afternoon trading after the company filed for a potential resale of stock linked to its Quantum Circuits acquisition. The stock swung between $24.75 and $28.13 during the session.
A prospectus supplement filed Jan. 20 gives certain selling stockholders the green light to resell up to 10,430,444 common shares. While this clears a technical hurdle, D-Wave emphasized it won’t collect any proceeds and has no details on if or when those shares will hit the market. 1
D-Wave closed its acquisition of Quantum Circuits on Jan. 20, delivering 10,430,444 shares along with $250 million in cash, subject to adjustments, according to an 8-K filing. The deal also includes a registration rights agreement tied to the stock portion. 2
That mix — a big stock block paired with a fresh resale registration — can weigh on sentiment for a name known to react sharply to news. Although a resale registration doesn’t signal new shares hitting the market, it often puts pressure on the price as early investors get a straightforward exit route.
D-Wave revealed that Quantum Circuits brings error-corrected, superconducting “gate-model” systems— the circuit-based approach used in most universal quantum computers— to complement D-Wave’s current commercial “annealing” machines, which target optimization problems. CEO Alan Baratz called the acquisition a “watershed moment.” Quantum Circuits co-founder Rob Schoelkopf said the combined company will harness D-Wave’s scaling know-how alongside a “hardware-efficient” quantum error correction strategy. The firm plans to share its roadmap at Qubits 2026, set for Jan. 27-28 in Boca Raton, Florida. 3
The sell-off dragged down more than just IonQ, which tumbled about 9%. Rigetti Computing fell close to 9%, and Quantum Computing Inc. slipped around 8% in afternoon trading in the U.S.
The real test now is how quickly Quantum Circuits shareholders move—and what they choose to do. If they start unloading shares into a weak market for speculative tech, D-Wave could see sharper intraday volatility, even if the company’s fundamentals remain steady.
Investors are keenly watching how the company will handle the cash portion of the deal amid its spending needs, especially given the volatile and evolving market for quantum hardware and services.
Traders remain focused on upcoming disclosures about registration rights and any hints on integration or product timelines. Mark your calendar for D-Wave’s Qubits 2026 event on Jan. 27-28.
