Shares of QBTS have experienced notable volatility and upward momentum since mid-July 2025. The stock entered an accumulation phase before making a significant move, with a reported intraday gain of 7.8% on July 17. Market sentiment around QBTS has turned increasingly bullish, with several traders highlighting a potential breakout and referring to the stock approaching a "blue sky" phase—a term used to describe a strong upward trend with no immediate resistance. Despite some cautionary notes about possible reversals and the need for careful position management, the overall trend suggests growing optimism among investors, with some increasing their call option positions substantially. By July 21, QBTS had re-entered the blue sky territory after a brief dip, prompting traders to adjust their holdings accordingly.