Problems at HelloFresh? Opportunities at D-Wave Quantum and Standard Uranium?

Standard Uranium: Ready for the Uranium Boom

Uranium stocks have disappointed investors so far in 2026. Despite a continued positive long-term supply-and-demand situation, the sector has been down since the start of the year. Yet this is precisely where John Bey sees opportunities. In an interview with Lyndsay Malchuk, the Standard Uranium CEO offers an optimistic outlook.

While he believes the spot price primarily reflects short-term sentiment, the long-term contract market is crucial for fundamental performance. Prices there have been rising steadily recently. At the same time, Bey expects uranium stocks to regain momentum after the seasonally quieter summer period. He anticipates renewed investor interest, particularly in junior explorers and mid-tier companies, as we head toward 2027.

For long-term investors, Bey sees the balance of supply and demand as the primary argument in favour of the sector. In his assessment, the uranium market is likely to remain adequately supplied over the next two to three years. After that, however, the situation could become significantly more acute. New reactors, small modular reactors (SMRs), and life extensions for existing power plants are driving up demand. At the same time, only a few new mines are coming online. Bey therefore expects a significant supply gap from 2030 to 2050. From a structural perspective as well, Bey sees nuclear energy entering a strong phase. The global rise in electricity demand, driven in part by data centres and AI, coincides with many countries' desire for greater energy security and reduced dependence on Russia. Unlike the sharp price spike in 2007, he expects the uranium price to rise more gradually this time around.

Standard Uranium aims to capitalize on this environment primarily through exploration successes. The Canadian uranium exploration company has a project portfolio of more than 94,000 hectares in the Athabasca Basin in Saskatchewan, one of the world's most significant uranium regions. The focus is on the flagship Davidson River project as well as several other exploration projects.

https://youtu.be/lJ0gNIdHXE4?si=BVdT7j0u51o6nqu-

D-Wave: Details on the Deal with the US Government

Similar to the uranium sector, the quantum sector has also seen consolidation this year. Here, too, the long-term opportunities are undisputed. Nevertheless, the correction is understandable, especially in the quantum sector. For example, D-Wave had a market capitalization of over USD 17 billion at the end of 2025. This contrasted with annual revenue of USD 24.6 million in 2025. Currently, the stock is trading between USD 17 and USD 18, and its market capitalization has shrunk to USD 6.6 billion.

Most recently, the partnership with the US government has sparked new optimism. D-Wave Quantum has reached a final agreement with the US Department of Commerce for up to USD 100 million in funding under the CHIPS and Science Act. The company plans to use the funds to accelerate research and development of its superconducting quantum computers and to further scale both its annealing and gate-model technologies. CEO Alan Baratz views this as an important step toward strengthening the US position in quantum computing, expanding domestic production capacity, and bringing more powerful quantum systems to market faster.

Specifically, the funding is intended, among other things, to support the development of an annealing system with 100,000 qubits and a gate-model system with 10,000 qubits. The latter is expected to enable 100 logical qubits and perform more than one million operations, supporting applications in areas such as quantum chemistry and quantum AI. In exchange for the funding, the US Department of Commerce will receive a minority stake in D-Wave without controlling rights.

HelloFresh: Share Price Soon Below EUR 2?

Alarm bells are ringing at HelloFresh. Following a profit warning last Thursday, the stock continues to plummet. It now risks falling below EUR 2. At the beginning of the year, the share price was still trading around EUR 6. During the 2021 COVID-19 hype, the EUR 100 mark was even briefly in sight.

HelloFresh has once again lowered its forecast following a weak back-to-school season. New customer acquisition fell well short of expectations, which the company attributes mainly to lower marketing spending. For the third quarter, HelloFresh now expects a currency-adjusted revenue decline of 11 to 12%, while the consensus estimate had previously been a 6.8% decline. Adjusted EBITDA, at EUR 45 to 55 million, is also expected to fall short of market expectations. For full-year 2026, the group now anticipates a revenue decline of 9 to 11% and adjusted EBITDA of EUR 350 to 370 million. Previously, the company had forecast a revenue decline of only 3 to 6% and adjusted EBITDA of EUR 375 to 425 million.

Jefferies is among the few optimists in this situation. The analysts have reaffirmed their "Buy" rating with a price target of EUR 8.35.

The analysts at mwb research take a very different view. They do not expect the meal-kit delivery company to return to a growth trajectory in 2027 or 2028. For 2027, they anticipate a further 5% decline in revenue to EUR 5.85 billion. For 2028, revenue is projected to be EUR 5.70 billion. Profitability is expected to stabilize. EBITDA is projected to be EUR 324 million in 2027, nearly at the 2026 level, and to rise slightly to EUR 328 million in 2028. The bottom line is that a gradual recovery is anticipated. Net income is expected to rise from EUR 22 million in 2026 to EUR 25 million in 2027 and EUR 31 million in 2028.

mwb research sees a fundamental problem with the business model. If HelloFresh adheres to strict return requirements for marketing expenditures, it risks further losses in customers and revenue. Higher spending on new customer acquisition, on the other hand, could diminish the positive effects of the ongoing efficiency program on earnings. In their base-case scenario, analysts therefore no longer expect a return to organic growth and project slightly declining revenue on average through 2033. The price target is being significantly lowered from EUR 2.90 to EUR 1.80, and the rating is being downgraded from "Hold" to "Sell."

The uranium sector appears ripe for a rally. Standard Uranium is an interesting explorer facing key months ahead. The expected news flow could provide further momentum for the share price. Quantum stocks will continue to drive the market. D-Wave is one of the leading pure plays. With HelloFresh, one could speculate on a rebound. Beyond that, buying the stock is not compelling at present.