D-Wave Quantum's general counsel sells $12,558 in stock

Diane Nguyen, General Counsel at D-Wave Quantum (NASDAQ:QMCO) Inc. (NYSE:QBTS), has recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Nguyen sold 2,383 shares of common stock at a price of $5.27 per share, totaling $12,558. The transaction comes as D-Wave's stock shows significant momentum, with InvestingPro data revealing a remarkable 515% price return over the past six months.

This transaction was conducted to cover statutory tax withholding obligations linked to the vesting of restricted stock units, as mandated by the company's equity incentive plans. Following this sale, Nguyen retains ownership of 448,162 shares. This figure includes 237,171 unvested restricted stock units and 8,823 shares acquired through the Employee Stock Purchase Plan. According to InvestingPro, D-Wave currently trades above its Fair Value estimate, with a market capitalization of $1.86 billion. The company's financial health score is rated as 'Weak', which provides important context for investors monitoring insider transactions. For deeper insights into insider trading patterns and 11 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.

In other recent news, D-Wave Quantum Inc. has completed a $150 million stock sale, bolstering its cash reserves to approximately $320 million. The funds are intended to support the company's ongoing technical development and business operations, as it aims for sustained profitability and positive cash flow. D-Wave Quantum also reported a revenue growth of 14.27% in the past year.

In addition, D-Wave Quantum Inc. has launched the Leap Quantum LaunchPad program, a three-month free trial initiative aimed at expediting the adoption of quantum computing applications in business and scientific research. The company has also reported a surge in bookings for fiscal year 2024, surpassing $23 million, a 120% increase from the previous year.

Analyst firms Benchmark and Craig-Hallum have maintained a Buy rating on D-Wave Quantum, with both firms raising their stock targets. These developments are part of D-Wave Quantum's ongoing efforts to establish a strong presence in the quantum computing market. These are the recent developments for D-Wave Quantum Inc.

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