Overview
- Wedbush initiated coverage on the four pure‑play quantum names, rating IonQ, Rigetti, and D‑Wave Outperform and Quantum Computing Neutral, with price targets of $60, $35, $35, and $12, respectively.
- Shares across the group fell sharply midweek, with one‑day declines of about 6% to 9% for Rigetti, D‑Wave, IonQ, and Quantum Computing as sector enthusiasm cooled.
- Quantum Computing named Yuping Huang permanent CEO effective Jan. 1 and announced a $110 million cash deal to acquire Luminar Semiconductor, developments that weighed on its stock.
- Jefferies issued a buy rating and $45 price target on D‑Wave, highlighting the Advantage2 system as a near‑term catalyst, and the shares rose roughly 7.5% on the day.
- Rigetti drew fresh bearish attention, with a thesis flagging ETF rebalance selling and weak fundamentals after a roughly 55% drop from its 52‑week high and minimal revenue versus expenses.