D-Wave Announces Transfer of Stock Exchange Listing to Nasdaq

Insider Brief

• D-Wave Quantum will transfer its stock listing from the New York Stock Exchange to the Nasdaq Stock Market, with trading on Nasdaq under the ticker QBTS expected to begin July 27 following the July 24 market close.
• The company said it has met Nasdaq’s listing requirements and does not expect the move to disrupt trading.
• D-Wave develops quantum computing hardware, software and cloud services, offering both quantum annealing and gate-model systems through its Leap cloud platform and on-premises deployments.

PRESS RELEASE —D-Wave Quantum will move the listing of its common stock from the New York Stock Exchange to the Nasdaq Stock Market later this month, the company announced in a press release Tuesday.

The transfer is scheduled to take effect after the close of trading on July 24, with shares expected to begin trading on Nasdaq on July 27 under the ticker symbol QBTS. The company said it does not expect any disruption to trading.

“Nasdaq is the marketplace for companies shaping the future of technology,” said Dr. Alan Baratz, CEO of D-Wave. “As the first commercial quantum computing company and a leader in delivering real-world quantum performance, D-Wave is well aligned with the innovation Nasdaq represents. We’re accelerating adoption of quantum solutions with customers around the world and look forward to working with Nasdaq during this transformative time in computing.”

D-Wave has met all Nasdaq listing requirements, according to Investing.com. The listing change comes as QBTS shares trade at $18.66, down 11% over the past week and nearly 40% below their 52-week high of $46.75. With a market cap of $6.91 billion, the investing site reported.

D-Wave develops quantum computing hardware, software and cloud services. The company offers both quantum annealing and gate-model quantum computing systems, making it one of a small number of companies pursuing multiple quantum computing architectures. Its systems are available through its Leap cloud platform and for on-premises deployment, serving commercial, government and research customers.