Most Active Stocks in Pre-Market on December 5, 2025: NVO, NIO, QBTS, SMR, BBAI, IONQ
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 05 2025
0mins
Should l Buy QBTS?
Source: NASDAQ.COM
NASDAQ 100 Pre-Market Indicator: The NASDAQ 100 Pre-Market Indicator is down 0.41 to 25,581.29, with a total pre-market volume of 91,889,714 shares traded.
Most Active Stocks: Novo Nordisk A/S (NVO) is up 0.83 at $48.82, NIO Inc. (NIO) is up 0.17 at $5.18, and D-Wave Quantum Inc. (QBTS) is up 0.32 at $29.05, with significant trading volumes for each.
Earnings Forecasts: D-Wave Quantum Inc. has had four upward revisions for its earnings forecast for the fiscal quarter ending December 2025, with a consensus EPS forecast of $-0.05.
Stock Recommendations: IonQ, Inc. (IONQ) and D-Wave Quantum Inc. (QBTS) are both in the "buy range" according to current mean recommendations, while BigBear.ai, Inc. (BBAI) is trading close to its target price.
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Analyst Views on QBTS
Wall Street analysts forecast QBTS stock price to rise
13 Analyst Rating
13 Buy
0 Hold
0 Sell
Strong Buy
Current: 19.640
Low
35.00
Averages
40.67
High
48.00
Current: 19.640
Low
35.00
Averages
40.67
High
48.00
About QBTS
D-Wave Quantum Inc. is a quantum computing company, which is engaged in the development and delivery of quantum computing systems, software, and services. The Company builds and delivers systems, cloud services, application development tools, and professional services to support the end-to-end quantum computing journey for enterprises and developers. The Company's products include Cloud Platform, Systems, Professional Services, and others. Under its Cloud Platform, the Leap quantum cloud service delivers immediate, real-time access to its quantum computers and hybrid solvers services. Under its Systems, the Advantage quantum system is a quantum computer designed for business. It also offers quantum applications to a range of customers, including resource scheduling, factory scheduling, industrial construction design, drug discovery, and others. It offers solutions across workforce scheduling, production scheduling, vehicle routing, resource optimization, and cargo loading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
D-Wave's Quantum Computing Market Potential Analysis
- Market Opportunity: D-Wave Quantum focuses on quantum annealing technology to tackle optimization problems, with the quantum computing market projected to reach $72 billion by 2035; capturing a significant share could greatly enhance its current market cap of $6.8 billion.
- Partnership Potential: D-Wave has signed a two-year, $10 million deal with an unnamed Fortune 100 company to explore its quantum computing capabilities, which, if successful, could lead to larger collaborations and drive business growth.
- Competitive Landscape: Despite D-Wave's specialized market strategy, it faces fierce competition from numerous large tech companies, which may impact its market share and margins, necessitating careful risk assessment by investors.
- Investment Advice: While D-Wave is seen as a potential player in the quantum computing space, the commercialization of its technology is still a long way off; investors are advised to maintain small positions to mitigate risks while capturing potential upside.
See More
Major Wall Street Rating Updates
- Apple Siri Upgrade Delay: Evercore ISI reiterates Apple as outperform, suggesting that reports of delays in Siri upgrades are overstated, with expectations for a multi-phase rollout of AI features this year, emphasizing the importance of privacy protection and seamless integration.
- Shopify Attractiveness Upgrade: TD Cowen upgrades Shopify from hold to buy, citing its strong quarterly performance and continued growth momentum as compelling reasons for investors to consider the stock, especially given its recent price decline.
- Fastly's Stellar Performance: William Blair upgrades Fastly from market perform to outperform following impressive earnings, driven by a significant increase in AI traffic contributions, indicating substantial growth potential in this emerging sector.
- MercadoLibre's Improved Competitive Landscape: JPMorgan upgrades MercadoLibre from neutral to overweight, noting a reduction in competitive pressures in the Latin American online marketplace, with expectations for sustained growth in the coming quarters.
See More
Analyzing Investment Prospects in Quantum Computing
- Massive Market Potential: McKinsey & Company projects that the quantum computing market could reach $72 billion annually by 2035, and with D-Wave Quantum's current market cap around $6.8 billion, capturing a significant market share could yield substantial returns.
- Technological Focus Advantage: D-Wave's use of quantum annealing technology allows it to specialize in solving optimization problems, giving it a competitive edge in specific applications such as weather modeling and logistics networks.
- Key Partnership Opportunity: D-Wave has signed a $10 million, two-year deal with an unnamed Fortune 100 company to explore its quantum computing capabilities, which could lead to larger collaborations and enhance its market position if successful.
- Investment Risk Advisory: While D-Wave shows potential in the quantum computing space, the intense competition from major tech companies necessitates cautious risk assessment by investors, suggesting a prudent approach to investment sizing.
See More
Analyzing D-Wave's Recent Move into the Defense Sector
D-Wave's Recent Developments: D-Wave Quantum Inc. has announced significant new contracts and partnerships, including acquiring a key rival, Quantum Circuits, and expanding its reach into the defense sector, aiming to enhance its position in quantum computing.
Investor Concerns: Despite positive developments, D-Wave's shares have seen a nearly 20% decline year-to-date, raising concerns among investors about the company's ability to translate advancements into tangible sales and profitability.
Collaborations and Goals: The company is collaborating with defense and aerospace consulting firms to create hybrid quantum-classical applications for U.S. air and missile defense planning, with promising early results in threat mitigation simulations.
Market Position and Future Outlook: While D-Wave is making aggressive efforts to expand, it faces significant competition in the defense sector and has yet to secure major U.S. military contracts, leaving investors uncertain about its future success in this space.
See More
Flynn Zito Capital Management Sells D-Wave Quantum Shares
- Share Reduction Details: Flynn Zito Capital Management sold 100,000 shares of D-Wave Quantum in Q4 2025, with an estimated transaction value of $2.91 million, indicating a cautious stance towards the stock.
- Position Value Decline: The fund's position in D-Wave Quantum decreased by $2.41 million during the quarter, reflecting the impact of market fluctuations on its investment portfolio, which may influence future investment decisions.
- Current Stock Performance: As of February 5, 2026, D-Wave Quantum's stock price stood at $17.21, representing a 174.9% increase over the past year, showcasing its strong growth potential in the quantum computing sector.
- Investment Return Analysis: Flynn Zito acquired 140,000 shares in Q1 2025, and the expected return on the sold shares ranges between 250% and 615%, indicating significant success in its investment strategy within the quantum computing space.
See More
Quantum Computing Industry Holds Massive Potential
- Market Potential Forecast: According to McKinsey, by 2035, the quantum computing market could generate annual revenues between $28 billion and $72 billion, with a 90% market share potentially leading to $45 billion in revenue for a leading company, highlighting significant market opportunities.
- Divergent Technology Paths: IonQ employs a trapped ion approach using lasers to cool atoms for quantum computing, while D-Wave utilizes quantum annealing focused on optimizing complex problem solutions, with both technologies offering unique advantages that could shape future market dynamics.
- Investment Return Potential: If either D-Wave or IonQ achieves $45 billion in annual revenue, their market caps could soar to $400 billion, translating to a potential gain of 5,233% for D-Wave and 2,885% for IonQ, indicating the high returns possible from investing in these companies.
- Risks and Opportunities: Despite the optimistic outlook for quantum computing, the path to success is fraught with challenges, and investors should carefully manage their positions; even a 1% initial investment could yield over 2,000% returns in the future, becoming a significant driver of portfolio gains.
See More
D-Wave's Quantum Computing Market Potential Analysis
- Market Opportunity: D-Wave Quantum focuses on quantum annealing technology to tackle optimization problems, with the quantum computing market projected to reach $72 billion by 2035; capturing a significant share could greatly enhance its current market cap of $6.8 billion.
- Partnership Potential: D-Wave has signed a two-year, $10 million deal with an unnamed Fortune 100 company to explore its quantum computing capabilities, which, if successful, could lead to larger collaborations and drive business growth.
- Competitive Landscape: Despite D-Wave's specialized market strategy, it faces fierce competition from numerous large tech companies, which may impact its market share and margins, necessitating careful risk assessment by investors.
- Investment Advice: While D-Wave is seen as a potential player in the quantum computing space, the commercialization of its technology is still a long way off; investors are advised to maintain small positions to mitigate risks while capturing potential upside.
See More
Major Wall Street Rating Updates
- Apple Siri Upgrade Delay: Evercore ISI reiterates Apple as outperform, suggesting that reports of delays in Siri upgrades are overstated, with expectations for a multi-phase rollout of AI features this year, emphasizing the importance of privacy protection and seamless integration.
- Shopify Attractiveness Upgrade: TD Cowen upgrades Shopify from hold to buy, citing its strong quarterly performance and continued growth momentum as compelling reasons for investors to consider the stock, especially given its recent price decline.
- Fastly's Stellar Performance: William Blair upgrades Fastly from market perform to outperform following impressive earnings, driven by a significant increase in AI traffic contributions, indicating substantial growth potential in this emerging sector.
- MercadoLibre's Improved Competitive Landscape: JPMorgan upgrades MercadoLibre from neutral to overweight, noting a reduction in competitive pressures in the Latin American online marketplace, with expectations for sustained growth in the coming quarters.
See More
Analyzing Investment Prospects in Quantum Computing
- Massive Market Potential: McKinsey & Company projects that the quantum computing market could reach $72 billion annually by 2035, and with D-Wave Quantum's current market cap around $6.8 billion, capturing a significant market share could yield substantial returns.
- Technological Focus Advantage: D-Wave's use of quantum annealing technology allows it to specialize in solving optimization problems, giving it a competitive edge in specific applications such as weather modeling and logistics networks.
- Key Partnership Opportunity: D-Wave has signed a $10 million, two-year deal with an unnamed Fortune 100 company to explore its quantum computing capabilities, which could lead to larger collaborations and enhance its market position if successful.
- Investment Risk Advisory: While D-Wave shows potential in the quantum computing space, the intense competition from major tech companies necessitates cautious risk assessment by investors, suggesting a prudent approach to investment sizing.
See More
Analyzing D-Wave's Recent Move into the Defense Sector
D-Wave's Recent Developments: D-Wave Quantum Inc. has announced significant new contracts and partnerships, including acquiring a key rival, Quantum Circuits, and expanding its reach into the defense sector, aiming to enhance its position in quantum computing.
Investor Concerns: Despite positive developments, D-Wave's shares have seen a nearly 20% decline year-to-date, raising concerns among investors about the company's ability to translate advancements into tangible sales and profitability.
Collaborations and Goals: The company is collaborating with defense and aerospace consulting firms to create hybrid quantum-classical applications for U.S. air and missile defense planning, with promising early results in threat mitigation simulations.
Market Position and Future Outlook: While D-Wave is making aggressive efforts to expand, it faces significant competition in the defense sector and has yet to secure major U.S. military contracts, leaving investors uncertain about its future success in this space.
See More
Flynn Zito Capital Management Sells D-Wave Quantum Shares
- Share Reduction Details: Flynn Zito Capital Management sold 100,000 shares of D-Wave Quantum in Q4 2025, with an estimated transaction value of $2.91 million, indicating a cautious stance towards the stock.
- Position Value Decline: The fund's position in D-Wave Quantum decreased by $2.41 million during the quarter, reflecting the impact of market fluctuations on its investment portfolio, which may influence future investment decisions.
- Current Stock Performance: As of February 5, 2026, D-Wave Quantum's stock price stood at $17.21, representing a 174.9% increase over the past year, showcasing its strong growth potential in the quantum computing sector.
- Investment Return Analysis: Flynn Zito acquired 140,000 shares in Q1 2025, and the expected return on the sold shares ranges between 250% and 615%, indicating significant success in its investment strategy within the quantum computing space.
See More
Quantum Computing Industry Holds Massive Potential
- Market Potential Forecast: According to McKinsey, by 2035, the quantum computing market could generate annual revenues between $28 billion and $72 billion, with a 90% market share potentially leading to $45 billion in revenue for a leading company, highlighting significant market opportunities.
- Divergent Technology Paths: IonQ employs a trapped ion approach using lasers to cool atoms for quantum computing, while D-Wave utilizes quantum annealing focused on optimizing complex problem solutions, with both technologies offering unique advantages that could shape future market dynamics.
- Investment Return Potential: If either D-Wave or IonQ achieves $45 billion in annual revenue, their market caps could soar to $400 billion, translating to a potential gain of 5,233% for D-Wave and 2,885% for IonQ, indicating the high returns possible from investing in these companies.
- Risks and Opportunities: Despite the optimistic outlook for quantum computing, the path to success is fraught with challenges, and investors should carefully manage their positions; even a 1% initial investment could yield over 2,000% returns in the future, becoming a significant driver of portfolio gains.
See More
