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Benzinga
Benzinga
Business
Henry Khederian

D-Wave Quantum (QBTS) Stock Is Surging: What's Going On?

QBTS Canaccord Canaccord Genuity Benzinga Edge DWave
D-Wave Quantum Inc

Shares of D-Wave Quantum Inc (NYSE:QBTS) are surging Wednesday afternoon. The stock's rally was ignited after investment firm Canaccord Genuity initiated coverage on the quantum computing company with a Buy rating.

What To Know: Canaccord also announced a price target of $20 per share. The move sent shares trading sharply higher throughout the session, near a new peak for the past year. This bullish analyst action builds on positive momentum from earlier in the week.

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