D-Wave Quantum Inc. will remain listed in the New York Stock Exchange (NYSE) after three non-compliance warnings in the last two years.
The Burnaby-founded quantum computing company announced Monday it regained compliance with the NYSE’s continued listing standard for minimum share price once again.
This consists of shares not falling below US$1 for more than 30 days.
The NYSE handed D-Wave a notification letter of recompliance on Nov. 1 after a calculation of their closing share price for 30 trading days ended Oct. 31. This figure showed an average closing share price above US$1.
D-Wave’s share price has fluctuated above and below the requirement since going public in August of 2022, debuting on the NYSE for around US$10 per share and falling below US$1 for the first time in February of the following year. The company was issued their first warning in March for non-compliance.
Their stock price gasped for some air in May after publishing a scientific paper and hosting a visit from B.C. Premier David Eby, but fell once again in September. Their second warning was then issued.
The company regained compliance with the stock exchange on March 4, 2024. However, its stock price fell below the requirement once more and received a third warning from the NYSE in early October.
D-Wave focuses on the development and delivery of quantum computing systems, software and services. The company’s Quantum Centre of Excellence is located in Burnaby and their global operations are based in Palo Alto, California.
