Should You Buy D-Wave Quantum Stock While It's Under $30?
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By Anders Bylund – Dec 11, 2025 at 10:13PMKey PointsD-Wave Quantum stock has gained over 2,400% since November 2024 but is down 40% from its peak in October.It's too early to pick winners in the quantum computing race, even in the less crowded quantum annealing subsector.A 40% pullback from speculative highs doesn't automatically make a stock cheap.These 10 Stocks Could Mint the Next Wave of Millionaires ›NYSE: QBTSD-Wave QuantumMarket Cap$9.4BToday's Changeangle-down(4.40%) $1.18Current Price$27.98Price as of December 11, 2025 at 4:00 PM ETD-Wave stock has pulled back sharply from October's all-time high. That doesn't necessarily make it a bargain.Quantum computing specialist D-Wave Quantum (QBTS +4.40%) has been on a thrill ride recently. As of Dec. 10, the stock has gained an eye-popping 2,470% from Nov. 1, 2024. It's also down 40% from October's all-time peak. Trading at $27.30 per share at the moment, D-Wave's stock is back below $30 per share after soaring as high as $46.75. Is this dip a great time to load up on D-Wave stock? ExpandNYSE: QBTSD-Wave QuantumToday's Change(4.40%) $1.18Current Price$27.98Key Data PointsMarket Cap$9BDay's Range$25.61 - $28.4952wk Range$3.71 - $46.75Volume31MAvg Vol53MGross Margin82.82%Dividend YieldN/A Hold your horses, quantum fans In a word: No. I mean, I get it. D-Wave is working in one of the most exciting industries in recent memory. Quantum computing should eventually disrupt all sorts of number-crunching tasks, from financial analysis and medical research to cryptography and process optimization. D-Wave walks a different path than today's peers. From IonQ and Rigetti Computing to Alphabet and IBM, the headline-writing focus is on gate-based quantum computing. That approach can produce exact results to complicated pattern-finding problems -- the stuff you need in order to solve the math riddles mentioned above.Advertisement Meanwhile, D-Wave's research revolves around quantum annealing. That's a faster way to find estimates instead of exact results. On a large-enough scale, that's still good for tasks where approximations are nearly as good as a precise result. "Almost" cracking an encryption algorithm is a failure, but finding the second-best driving route from Fenway Park to your neighborhood on the west side of Boston is almost always good enough (and an impressive feat, anyway). If nothing else, annealing may become a helpful first step to start the quantum gate process get close to the correct answer. Image source: Getty Images. Great tech, scary price tag However, it's too early to pick winners in this marathon, and others may swarm to D-Wave's chosen field of expertise. Meanwhile, D-Wave's stock is valued at $9.53 billion -- 395x its $24 million in trailing sales. That's a lofty valuation for a risky stock. The stock may be down from a speculative high, but it's still much too expensive for my taste.About the AuthorAnders Bylund is a contributing Motley Fool media and technology analyst covering semiconductors, cloud computing, internet infrastructure, quantum computing, and streaming media. Previously, Anders was a systems administrator for Nielsen Technology and CSX, gaining hands-on experience with enterprise-class systems. He was also a freelance writer for Ars Technica, TIME, USA Today, CNN, WIRED, and AOL's Daily Finance. He holds a bachelor’s degree in English and a master’s degree in library and information sciences from Florida State University. He believes in coyotes and time as an abstract.TMFZahrimX@TMFZahrimRead NextDec 10, 2025 •By Leo SunIs D-Wave Quantum Stock a Buy?Dec 8, 2025 •By Johnny RiceD-Wave Quantum's Stock Price Crashed Nearly 40% in November. What's Next For The Quantum Computing Company?Dec 7, 2025 •By James BrumleyCould Investing $10,000 in D-Wave Quantum Make You a Millionaire?Dec 7, 2025 •By Jon QuastWhy I Wouldn't Touch D-Wave Quantum Stock With a 10-Foot PoleDec 4, 2025 •By Johnny RiceWhy D-Wave Quantum Stock Is Soaring TodayDec 4, 2025 •By Robert IzquierdoBetter Quantum Computing Stock: D-Wave Quantum vs. IBM