Why D-Wave Quantum Stock Just Crashed

D-Wave Quantum (QBTS 8.19%) stock jumped 2.3% on Tuesday as momentum investors swarmed to buy the stock in the wake of a Trump Administration order promoting the development of quantum computing. StreetInsider.com reported massive buying of call options in D-Wave stock yesterday -- 5.3 calls purchased for every put -- indicating traders were heavily bullish on the stock. But it didn't last. As of 2:40 p.m. ET, D-Wave stock has given up all yesterday's gains and is crashing 8.9% today. Image source: Getty Images. Some good news for D-Wave? As NBC reports, President Trump on Monday signed an order "to build a powerful quantum computer for ​scientific research," aiming to have the device operational before he leaves office in 2029. Further out, the President called for protecting government computer systems from cyberattacks made more powerful by the use of quantum computers, using other quantum computers to build "post-quantum cryptography" by 2030 or 2031. And I must say, all of this sounds pretty bullish for a leading quantum computing stock like D-Wave, and a good reason for investors to be bidding up D-Wave stock yesterday. ExpandNYSE: QBTSD-Wave QuantumToday's Change(-8.19%) $-2.05Current Price$22.98Key Data PointsMarket Cap$9.3BDay's Range$22.40 - $24.4352wk Range$12.75 - $46.75Volume31.7MAvg Vol34.5MGross Margin32.92% No bad news for D-Wave stock The other good news is that there's no specific bad news driving the sell-off today. It's just that all the buying yesterday may have gone a bit overboard, and the lack of any more good news like Monday's meant day-traders couldn't sustain the momentum. Nor may it for a while. 2028? 2030? 2031? These are some long-range targets, even stretching into a new Presidential administration, which may or may not sustain government support for quantum computing efforts. Meanwhile, analysts polled by S&P Global Market Intelligence expect D-Wave to remain unprofitable the whole time -- through at least 2030. Even with the prospect of government subsidies, D-Wave stock remains a risky bet.Read NextJun 23, 2026 •By Howard SmithStock Market Today, June 23: D-Wave Quantum Jumps After Trump Signs Executive Orders Boosting Quantum AdoptionJun 17, 2026 •By Geoffrey Seiler4 Technologies Chasing Quantum Computing Supremacy and the Stocks to Invest In With EachJun 17, 2026 •By Micah Zimmerman3 Quantum Computing Stocks Down Sharply -- but 1 Offers Exceptional ValueJun 15, 2026 •By Josh Kohn-LindquistStock Market Today, June 15: D-Wave Quantum Jumps After Mizuho Raises Price Target on Roadmap ProgressJun 15, 2026 •By Scott LevineWhy D-Wave Quantum Shares Are Soaring TodayJun 12, 2026 •By Matt DiLallo3 Best Quantum Computing ETFs for 2026 and How to InvestAbout the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedD-Wave QuantumNYSE: QBTS$22.98(-8.19%)-$2.05Motley Fool Stock Advisor’s Latest PickGet Access---% Avg Return*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.