Quantum Computing Stocks Rebound After Dilution Scare: IonQ and Rigetti Climb 3%, D-Wave Advances 2%

A dilution scare sent quantum computing stocks into a tailspin, but IonQ, Rigetti, and D-Wave are clawing back gains while a key ETF moves in the opposite direction, raising questions about whether this rebound has real staying power.

Quantum computing stocks are bouncing back after a dilution scare rattled the group. IonQ (NYSE:IONQ | IONQ Price Prediction) stock is up 3% to $32.51, leading the rebound early in the session despite a 28% decline year to date.

At the same time, Rigetti Computing (NASDAQ:RGTI) stock is up 3% to $12.09, following IonQ stock higher. D-Wave Quantum (NASDAQ:QBTS) stock is up 2% to $12.29, moving in step with Rigetti shares.

Broader quantum exposure is moving the other way. The Defiance Quantum ETF (NASDAQ:QTUM) is down 1% to $139.72, sliding even as IonQ, Rigetti and D-Wave shares are climbing. Notably, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is essentially unchanged at $769.76, which leaves the bounce concentrated in the pure-play names.

Discounted Offering Sparked the Dilution Scare

IonQ priced a $2 billion equity offering on October 14, selling shares and pre-funded warrants to a single institutional buyer. The offering’s pricing landed below where IonQ stock had been trading, and IonQ shares fell on the dilution.