NEW YORK, December 29, 2025, 02:54 ET — Market closed.
- D-Wave Quantum shares were last at $25.29, down 8.1% from the prior close.
- Quantum-computing peers IonQ and Rigetti also fell sharply in the last session.
- Traders are watching year-end liquidity and January industry events for the next catalyst.
D-Wave Quantum Inc shares were last down 8.1% at $25.29, extending a late-week pullback in U.S.-listed quantum-computing names.
The move matters because the final trading days of the year often come with thinner liquidity, which can amplify swings in volatile, high-momentum stocks. That can leave price action looking dramatic even when the broader market backdrop is relatively calm.
U.S. stocks ended nearly flat in a light post-Christmas session on Friday, Reuters reported. Ryan Detrick, chief market strategist at Carson Group, said the market was “catching our breath” after a strong five-day rally. Reuters
D-Wave’s decline came alongside sharp drops in peers IonQ and Rigetti, which were last down 7.6% and 8.6%, respectively, pointing to a sector-wide pullback rather than an isolated move.
D-Wave traded between $24.775 and $27.79 in the last U.S. session, with about 33.6 million shares changing hands, market data showed.
The company sells quantum-computing systems, software and services. Its core approach uses quantum “annealing,” a method aimed at finding good solutions to complex optimization problems—often run in tandem with classical computing, which is why the company talks about “hybrid” solvers. SEC
Investors have had few fresh company-specific headlines to trade on in the final stretch of December, leaving sentiment and positioning to do more of the work. The broader tape also reflected light participation, with volume on U.S. exchanges well below recent averages, Reuters said.
The next calendar-driven milestone is early January. D-Wave said it will participate in CES 2026 as a sponsor of the CES Foundry event in Las Vegas on Jan. 7-8.
Later in the month, D-Wave said in an SEC filing that its Qubits 2026 user conference will take place in Boca Raton, Florida on Jan. 27-28, and that it plans to share updates on its technology roadmap for both annealing and gate-model initiatives.
Traders are also watching whether the market’s “Santa Claus rally” period—defined as the last five trading days of the year and the first two of the next—keeps risk appetite supported into the turn, Reuters said. Reuters
Before the next session, D-Wave’s Friday low around $24.78 is a near-term level some traders will be watching for signs of stabilization. A move back above the prior session’s $27.79 high would put the focus on whether buyers are returning to the quantum group.
Investors will also look for the next earnings-date announcement. D-Wave has historically reported annual results in March; in a prior year, the company scheduled fourth-quarter and full-year results for March 13 in a company statement.
For now, D-Wave and its peers remain a high-beta corner of the market, with price action that can swing quickly when liquidity thins and positioning shifts into year-end.
