Quantum Computing Stocks IonQ, Rigetti, and D-Wave Are Sending Shockwaves Through Wall Street With This $988 Million Warning - The Motley Fool

While artificial intelligence (AI) has been the buzz of Wall Street over the last two years, it's not the only trend responsible for lifting the market's major stock indexes to new heights. Investor hype surrounding quantum computing deserves its fair share of credit. Investors who had the foresight and luck to invest in pure-play quantum computing leaders IonQ (IONQ +3.74%), Rigetti Computing (RGTI +7.40%), and D-Wave Quantum (QBTS +6.94%) in mid-July 2024 are sitting on potentially life-altering gains. Shares of IonQ have more than quadrupled, while shares of Rigetti and D-Wave have skyrocketed by nearly 1,200% and 1,500%, respectively. Professional and everyday investors are excited about the real-world applications of quantum computers, which include dramatically accelerating the learning curve for AI-driven large language models. Image source: Getty Images. But this next-big-thing technology may not be all that it's cracked up to be -- at least according to the individuals who know IonQ, Rigetti Computing, and D-Wave Quantum best. Quantum computing stock insiders are sending a clear message Although Wall Street analysts spend their time specializing in sectors, industries, and trends, no one knows IonQ, Rigetti, and D-Wave 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. Regulators require that insiders report trades in their company's stock (including the exercising of option contracts) via Form 4 no later than two business days after a transaction. This prevents insiders from taking advantage of the system and allows investors a transparent look at what the most in-the-know investors have been up to. ExpandNYSE: IONQIonQToday's Change(3.74%) $1.28Current Price$35.52Key Data PointsMarket Cap$13BMarket 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$34.71 - $36.0652wk Range$25.89 - $84.64Volume3.6KAvg Vol28MGross Margin-2879.52% According to aggregated Form 4 filings over the last five years for the three most prominent quantum computing stocks, insiders have been decisive sellers: IonQ: $576.5 million in net selling by insiders D-Wave Quantum: $331.3 million in net selling by insiders Rigetti Computing: $80.4 million in net selling by insiders Collectively, insiders at this pure-play trio have sold just over $988 million of their respective companies' stock since mid-July 2021. The asterisk that can be added to this insider-selling shockwave is that not all selling is inherently bad news. Given that most executives and board members are compensated in stock and/or options, some selling is required to cover federal and/or state tax liability. There are several reasons for insiders to sell, and they aren't all nefarious. ExpandNYSE: QBTSD-Wave QuantumToday's Change(6.94%) $1.16Current Price$17.88Key Data PointsMarket Cap$6.6BMarket 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$17.00 - $18.0252wk Range$12.75 - $46.75Volume280Avg Vol31.1MGross Margin32.92% On the other hand, there's only one reason why insiders buy shares of their own company: the expectation that they'll appreciate. Over the trailing five-year period, insider purchases have been few and far between: IonQ: $3,349,040 in insider purchases D-Wave: $309,080 in insider purchases Rigetti: $625,000 in insider purchases If insiders aren't buying, there may be a logical reason (or two) why. For starters, quantum computing stock valuations are otherworldly. No company at the forefront of a next-big-thing technology has ever sustained a price-to-sales (P/S) ratio above 30. Quantum computing pure-play stocks have trailing 12-month P/S ratios ranging from 60 to 459! Every game-changing technological innovation for the last three decades has also endured a bubble-bursting event early in its expansion. While quantum computing hype is real, broad-based adoption and enterprise optimization are many, many years from becoming a reality.Read NextJul 20, 2026 •By Adam Spatacco1 Quantum Computing Stock That Could Be the Next PalantirJul 19, 2026 •By Scott Levine3 Best Tech Stocks to Buy in 2026 and How to InvestJul 16, 2026 •By Rick OrfordCould IonQ Become America's Best Quantum Platform?Jul 15, 2026 •By Keithen DruryIonQ: This Quantum Computing Pioneer Is a No-Brainer Buy (NYSE: IONQ)Jul 9, 2026 •By Keithen Drury1 Incredible Quantum Computing Stock That Could Make Investors a FortuneJul 8, 2026 •By Anders Bylund9 Best Quantum Computing Stocks for 2026 and How to InvestAbout 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$35.52(+3.74%)+$1.28Motley Fool Stock Advisor’s Latest PickGet Access---% Avg ReturnD-Wave QuantumNYSE: QBTS$17.80(+6.46%)+$1.08Rigetti ComputingNASDAQ: RGTI$15.31(+7.40%)+$1.06*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.