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John M. Markovich, the Chief Financial Officer of D-Wave Quantum (NASDAQ:QMCO) Inc. (NYSE:QBTS), reported the sale of company stock valued at $29,417, according to a recent SEC filing. The quantum computing company, currently valued at $1.86 billion, has seen its stock surge over 500% in the past six months, according to InvestingPro data. The transaction, which took place on January 23, involved the sale of 5,582 shares at a price of $5.27 each. This sale was conducted to cover statutory tax withholding obligations related to the vesting of restricted stock units, as mandated by the company's equity incentive plans. Following this transaction, Markovich holds 1,064,556 shares, which includes 481,250 shares of unvested restricted stock units. InvestingPro analysis indicates the stock generally trades with high price volatility, with 11 additional exclusive insights available for subscribers. The company's current Financial Health score suggests a weak overall position, operating with moderate debt levels.
In other recent news, D-Wave Quantum Inc. has made significant financial strides with the successful sale of $150 million in common stock, boosting the company's cash reserves to approximately $320 million. This move is part of the company's plan to achieve sustained profitability and positive cash flow. The company has also reported a revenue growth of 14.27% in the last twelve months. On the other hand, D-Wave Quantum Inc. has launched the Leap Quantum LaunchPad program, aimed at promoting the adoption of quantum computing applications in business and scientific research. Analyst firms Benchmark and Craig-Hallum have maintained a Buy rating on D-Wave Quantum, with both firms raising their stock targets. These are recent developments in D-Wave Quantum's ongoing efforts to establish a strong presence in the quantum computing market.
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