D-Wave Quantum Skyrocketed Today -- Is the Stock a Buy Right Now?
Key Points
D-Wave bounced back from recent sell-offs, but the stock is still down big from its peak.
D-Wave could be a big winner in quantum computing, but the stock comes with a high degree of risk.
- 10 stocks we like better than D-Wave Quantum ›
D-Wave Quantum (NYSE: QBTS) stock posted massive gains in Friday's trading. The quantum computing company's share price surged more than 20% in a day of trading that saw the S&P 500 gain 2% and and the Nasdaq Composite surge 2.2% higher.
After some big sell-offs earlier in the week, D-Wave and other growth stocks came roaring back in today's trading. The company's rally was aided in part by Amazon's announcement that it plans to spend $200 billion this year building out its artificial intelligence (AI) data-center infrastructure and pursuing other growth projects.
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Amazon's huge capital expenditures forecast helped restore confidence in the AI trade -- and the bullish momentum extended to D-Wave and other quantum-computing stocks. Despite the rally today, D-Wave stock is still down 53.5% from its lifetime high.
Is D-Wave stock a buy right now?
D-Wave appears to have solid early positioning in the quantum-computing market. The company's annealing approach to quantum tech is yielding commercialization opportunities, and its bets on gate-model tech could wind up powering even bigger growth over the long term.
On the other hand, D-Wave's outlook is highly speculative -- and the potential for big upside with the stock comes with a lot of risk. For long-term investors, D-Wave stock may be looking at a binary outcome. While shares could go on to deliver multibagger returns, there is also a big risk that shareholders could lose most or all of their investment.
Should you buy stock in D-Wave Quantum right now?
Before you buy stock in D-Wave Quantum, consider this:
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon. The Motley Fool has a disclosure policy.
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