D-Wave Quantum (NASDAQ: QBTS) shares tumbled 16.6% for the week ending Friday, August 28, 2026, sharply underperforming a broadly rising market.
The steep decline stands in stark contrast to gains posted by major indexes, with the S&P 500 climbing 1.1% and the Nasdaq Composite rising 1.8% over the same period.
The sell-off was triggered largely by the company’s announcement on Tuesday, August 25, that Chief Financial Officer John Markovich would be retiring effective September 2, 2026.
The abruptness of Markovich’s departure unnerved investors, given how quickly the transition is set to occur following the announcement.
Markovich will be replaced by Greg Golkov, the company’s senior vice president of finance, who steps into the CFO role as the company navigates a difficult financial stretch.
CEO Alan Baratz publicly thanked Markovich for his “significant contributions,” and specifically acknowledged the “pivotal role” he played in helping take D-Wave public in 2022.
The company moved to reassure investors, stating the retirement was not the result of any disagreements “on any matter related to the Company’s business, operations, accounting policies, practices, financial statements, disclosure controls and procedures or internal control over financial reporting.”
Despite that disclaimer, the timing of the announcement proved damaging to investor confidence, arriving shortly after a disappointing quarterly earnings report.
D-Wave’s second-quarter revenue came in just above $3 million, essentially flat compared to the same period a year earlier, offering little evidence of commercial momentum.
The more alarming figure was the company’s Q2 2026 operating loss, which more than doubled year over year, widening dramatically from $26.5 million to $54.7 million even as sales remained stagnant near $3 million.
The combination of a sudden executive exit and deepening losses proved to be a damaging one-two punch for QBTS shares, sending the stock significantly lower in a week when much of the market moved higher.
Quantum computing stocks have historically been volatile, and QBTS has seen sharp swings before, but a loss of this magnitude in a single week reflects genuine concern among shareholders about the company’s near-term trajectory.
