Quantum Computing Stocks IonQ, Rigetti Computing, and D-Wave Quantum Are Sending Shockwaves Through Wall Street With This $931 Million Warning
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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 (IONQ +2.80%), Rigetti Computing (RGTI 1.77%), and D-Wave Quantum (QBTS 1.22%) 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. Image source: Getty Images. 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. ExpandNYSE: IONQIonQToday's Change(2.80%) $1.78Current Price$65.40Key Data PointsMarket Cap$24BDay's Range$59.71 - $66.8152wk Range$25.89 - $84.64Volume535.4KAvg Vol29.3MGross Margin-2879.52% 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. Over the same trailing five-year period, IonQ's insiders have spent just $3.35 million buying their company's shares, while insider buying at Rigetti Computing ($625,000) and D-Wave Quantum ($309,080) has been even more anemic. ExpandNASDAQ: RGTIRigetti ComputingToday's Change(-1.77%) $-0.45Current Price$24.62Key Data PointsMarket Cap$8.2BDay's Range$23.62 - $25.8552wk Range$10.30 - $58.15Volume885.4KAvg Vol34.7MGross Margin-5945.49% Insiders likely recognize how historically expensive quantum computing stocks are at this early stage of commercialization. Historically, a price-to-sales (P/S) ratio of 30 for companies at the forefront of game-changing trends has proven unsustainable over the long term. As of this writing on May 22, IonQ, Rigetti, and D-Wave are trading at P/S ratios of 109, 836, and 791, respectively. Furthermore, history hasn't been kind to next-big-thing trends over the last 30 years. Every hyped trend has endured an early innings bubble-bursting event, brought about by investors overestimating the adoption and/or optimization of an innovation. Quantum computing has neither widespread adoption nor a path to rapid enterprise optimization. Although quantum computing stocks are scorching-hot yet again, the actions of their insiders should give investors pause.Read NextMay 26, 2026 •By Robert IzquierdoD-Wave Quantum vs. IonQ: Which Quantum Computing Stock Is a Better Buy in 2026?May 25, 2026 •By Geoffrey SeilerThe U.S.
Government Is Investing $2 Billion in the Quantum Computing Space, But Did It Miss the Best Stock to Buy?May 22, 2026 •By Eric VolkmanWhy IonQ Stock Blasted Almost 23% Higher This WeekMay 22, 2026 •By Micah ZimmermanWhy the Smartest AI Money Is Quietly Moving Into Quantum Computing Right NowMay 21, 2026 •By Eric TrieStock Market Today, May 21: IonQ Rises as U.S.
Quantum Funding Report Lifts Sector SentimentMay 21, 2026 •By Adam SpataccoDid Amazon Just Deliver a Sweeping Blow to IonQ?About the AuthorSean Williams is a data-driven Motley Fool contributing analyst who's been investing for 27 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$65.57(+3.06%)+$1.95Motley Fool Stock Advisor’s Latest PickGet Access---% Avg ReturnD-Wave QuantumNYSE: QBTS$27.48(-1.22%)-$0.34Rigetti ComputingNASDAQ: RGTI$24.62(-1.77%)-$0.45*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.