D-Wave at the Tipping Point: A High-Risk Long Trade Backed by a Gate-Model Pivot
D-Wave (QBTS) has pivoted from being the quantum annealing specialist to a hybrid supplier with gate-model capability after a $550 million acquisition. The stock trades at growth-stock multiples that assume market dominance; this trade buys a disciplined exposure at $20.50 with a long-term horizon, a $38 target and a tight stop to limit downside.