Wave, BTQ Technologies, Symmatrics, and Rigetti Computing

U.S. stock futures rose overnight, with Nasdaq 100 leading gains, as a $2B quantum computing investment by the Trump administration overshadowed Iran concerns. IBM and several quantum computing firms, including Rigetti (RGTI) and D-Wave (QBTS), saw significant stock gains. NIO also rose on strong earnings. Treasury yields dipped, while oil prices increased.

Quantum computing stocks like IonQ, Rigetti Computing, and D-Wave Quantum have fallen harder than the Nasdaq-100 during tech sector declines in 2026. These companies trade at high forward sales multiples, with IonQ at 52x, Rigetti at 223x, and D-Wave at 148.8x, despite reporting losses and relying on future growth. While their strong cash balances reduce near-term risks, their valuations remain vulnerable to further compression.

Insiders at IonQ, Rigetti, and D-Wave sold $863M more shares than they bought over three years, despite stock gains up to 6,200%. All three reported improved fundamentals in 2026, but trade at high price-to-sales ratios. Institutional investors show mixed interest in the sector.

D-Wave Quantum (QBTS) fell 8% after CFO Markovich announced his retirement, dragging IonQ (IONQ) down 3%. D-Wave's stock is down 26% year-to-date, with a market cap of $6.57B. IonQ's market cap is $16.48B. The Defiance Quantum ETF (QTUM) barely moved, indicating a name-specific event.

IonQ and Rigetti are compared as quantum computing investment options. IonQ reported a 287% YOY revenue increase to $80.1M, with 60% from commercial customers. Rigetti has a 'Moderate Buy' rating, down 19% YTD, with a $28.33 avg. price target. IonQ has a 'Strong Buy' rating, up 477% over 2 years, with a $67.46 avg. price target.

IonQ (IONQ) expanded access to its quantum systems in Canada. OQC raised £260M for infrastructure. Crypto4A achieved a post-quantum security standard. D-Wave (QBTS), Rigetti (RGTI), and BTQ made leadership changes. Quantum X Labs (QXL) reported AI quantum error correction progress.