D-Wave Quantum (QBTS) stock plummeted after announcing the redemption of all public warrants, causing a sharp sell-off. Despite a 14.8% drop, shares are still up 289% this year. The company redeemed around five million warrants, expecting stock dilution of less than 2.1% for existing shareholders if all are exercised. The move reflects high valuations in quantum computing stocks.

Investors will await D-Wave’s Q3 earnings report on Nov. 6 for more insight. The company’s stock is currently valued at approximately 455 times this year’s expected sales. The Motley Fool Stock Advisor team did not include D-Wave Quantum in their list of 10 best stocks for investors. D-Wave’s announcement triggered significant market reaction and a deep plunge in share price.

Read more at Yahoo Finance: Why D-Wave Quantum Stock Plummeted This Week