Although artificial intelligence (AI) has been Wall Street’s hottest trend over the last four years, it’s quantum computing stocks that have outperformed AI stocks. As of mid-October 2025, trailing 12-month returns for IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS) were up to 6,217%!
While sizable addressable opportunities — Boston Consulting Group foresees quantum computing adding up to $850 billion in global economic value by 2040 — and early stage deals have investors excited about this new technology, this trio has collectively sounded a $931 million warning that’s reverberating through Wall Street.
|
Will AI create the world’s first trillionaire? Our team just released a report on a little-known company, called an “Indispensable Monopoly,” providing the critical technology Nvidia and Intel both need. |
The people who know quantum computing stocks best are telling a worrisome tale
Amid the hype about real-world use cases for this game-changing technology, we’ve witnessed a pattern emerge among the individuals who know IonQ, Rigetti, and D-Wave the best: their insiders.
An “insider” is a high-ranking executive, board member, or beneficial owner of at least 10% of a company’s outstanding shares who may possess non-public information. For the sake of transparency, as well as to follow securities law, insiders are required to file Form 4 with the Securities and Exchange Commission within two days of transacting in their company’s stock. In other words, if an insider buys or sells stock, including exercising option contracts, it needs to be filed with regulators.
Over the trailing five years, insiders at IonQ, Rigetti Computing, and D-Wave Quantum have been decisive net sellers of their company’s shares:
-
IonQ: $576,017,989 in net selling
-
Rigetti: $60,258,276 in net selling
-
D-Wave: $294,956,821 in net selling
In aggregate, pure-play quantum computing insiders have sold approximately $931 million more in stock than they purchased since mid-May 2021.
The caveat to the above data is that most high-ranking executives and board members receive the bulk of their compensation in stock and/or options. Insiders typically have to sell a portion of their shares to cover their federal and/or state tax liability. Tax-based selling isn’t nefarious and shouldn’t concern investors.
But the other side of the coin is equally disturbing. Whereas several reasons exist to sell a stock, not all of which are inherently bad, there’s only one reason for an insider to buy shares of their company: the expectation of future appreciation.
