IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. Are Sending Shockwaves Through Wall Street With This $895 Million Warning

Although the artificial intelligence infrastructure build-out is the stock market's hottest trend, it's not the only innovative trend driving up equity valuations.Excitement for the evolution and real-world application of quantum computers is building on Wall Street. Over the trailing two years, shares of pure-play quantum computing stocks IonQ (IONQ +3.53%), Rigetti Computing (RGTI +4.89%), D-Wave Quantum (QBTS +3.45%), and Quantum Computing Inc. (QUBT +2.99%) have soared by approximately 400%, 1,820%, 1,670%, and 1,200%, respectively. Image source: Getty Images. While the signing of contracts and the forging of early-stage partnerships have produced life-altering gains for this pure-play quartet, the outlook for quantum computing stocks isn't as rosy as their trailing two-year returns imply. The people who know IonQ, Rigetti, D-Wave, and Quantum Computing best are sending the wrong signals to Wall Street.Quantum computing pure-play insiders are sending shockwaves through Wall StreetThough Wall Street analysts spend their days better understanding the ins and outs of the companies and industries they cover, no individuals understand these four pure-play quantum computing stocks better than 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 transparency and to comply with securities law, insiders are required to report any transactions in their company's stock within two business days.ExpandNYSE: IONQIonQPremium FeatureMoneyball Superscore63/100Today's Change(3.53%) $1.38Current Price$40.51Key Data PointsMarket Cap$16BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Day's Range$39.83 - $40.9352wk Range$25.89 - $84.64Volume366.2KAvg Vol20.4MGross Margin-3317.96%It's the insider trading activity for Wall Street's hottest quantum computing stocks that's sending shockwaves through Wall Street. Over the trailing two years, insiders have been steady sellers:IonQ: $454,454,505 in net sellingRigetti: $75,684,992D-Wave: $331,141,697Quantum Computing: $33,840,754Collectively, insiders at these scorching-hot quantum computing companies have sold $895.1 million more in shares than they've purchased since Sept. 18, 2024.The caveat to the above net-selling activity is that most high-ranking executives and board members are primarily compensated in shares and/or stock options. The federal and/or state tax liability associated with this compensation requires shares to be sold. Insiders selling for tax purposes or to diversify their investment holdings aren't a red flag.ExpandNASDAQ: RGTIRigetti ComputingPremium FeatureMoneyball Superscore52/100Today's Change(4.89%) $0.77Current Price$16.53Key Data PointsMarket Cap$5.5BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Day's Range$16.11 - $16.5652wk Range$12.53 - $58.15Volume168.5KAvg Vol20.8MGross Margin-3975.14%But the other side of this coin is just as important. Whereas several reasons exist to sell a stock, not all of which are bad news for investors, there's only one reason to be a buyer: the expectation that the shares will appreciate. Insider buying at this quantum computing quartet has been almost nonexistent over the trailing two years:IonQ: $2,254,294 in insider buyingRigetti: $0D-Wave: $1,795Quantum Computing: $0If insiders aren't buying, ask yourself, "Why should retail investors?"IONQ PS Ratio data by YChartsHistory may offer a clue (or two) as to why quantum computing insiders aren't buyers. Over the last three decades, no companies at the forefront of a game-changing technology have sustained a price-to-sales (P/S) ratio above 30 for any extended period. As of Sept. 18, the trailing 12-month P/S ratios for these pure-plays stocks were in clear bubble territory:IonQ: 55.7 P/S ratioRigetti: 391.2D-Wave: 494.1Quantum Computing: 183.3Furthermore, every game-changing technology for three decades has endured an early-innings bubble-bursting event, brought about by investors overestimating the pace of adoption and/or the optimization of innovations. Next-big-thing technologies need ample time to mature, and quantum computing is nowhere close to a proven and optimized innovation.Read NextSep 22, 2026 •By Keithen DruryIonQ Just Raised 2026 Revenue Guidance.

This Quantum Computing Pure-Play Looks Like a Brilliant Buy Now.Sep 21, 2026 •By Adam SpataccoMeet the Quantum Computing Stock Growing Faster Than NvidiaSep 20, 2026 •By Chris Neiger3 Things You Need to Know Before Buying IonQ StockSep 18, 2026 •By Will EbiefungHere's What $1,000 Invested in IonQ Stock Could Be Worth by 2030Sep 17, 2026 •By Rich SmithWhy IonQ Stock Popped TodaySep 17, 2026 •By Geoffrey SeilerIf the Pace of AI Is Slowed, Investors Can Turn to Quantum Computing. 4 Quantum Stocks to Buy Now.About the AuthorSean Williams is a data-driven Motley Fool contributing analyst who's been investing for 28 years and has penned north of 16,000 articles. You'll find him at the intersection of politics and investing tackling macroeconomic topics of interest (Social Security and Donald Trump's economic/tax policies), analyzing which stocks billionaire investors (e.g., Warren Buffett) are buying and selling, and digging into how the world's most-influential businesses and trends -- everything from the evolution of artificial intelligence (AI) to the next stock split -- are changing Wall Street. He holds a B.A. in Economics from the University of California, San Diego.TMFUltraLongX@AMCScamStocks MentionedIonQNYSE: IONQ$40.51(+3.53%)+$1.38Motley Fool Stock Advisor’s Latest PickGet Access---% Avg ReturnQuantum ComputingNASDAQ: QUBT$8.96(+2.99%)+$0.26Rigetti ComputingNASDAQ: RGTI$16.53(+4.89%)+$0.77D-Wave QuantumNASDAQ: QBTS$17.70(+3.45%)+$0.59*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.