Although artificial intelligence is the hottest trend on Wall Street in recent years, it is not the only game-changing technology that is turning heads and attracting investors to open their wallets. The advent of quantum computing has really attracted investors.
As of mid-October 2025, quantum computing stocks IonQ (IONQ 7.81%), Abandon Computing (RGTI 7.60%)and D-Wave Quantum (QBTS 5.29%) gained between 670% and 6,217% over the next 12 months.
Image source: Getty Images.
This strong confidence was fueled by the prospect of long-term investment — JPMorgan Chase unveiled its $1.5 trillion, 10-year Security and Resiliency Initiative in mid-October — and the first partnership/contract achievement. For example, Amazon has given its customers access (through its Braket service or through Amazon Web Services) to IonQ’s, Rigetti’s, and D-Wave’s quantum computers. Getting to Amazon as a customer is noteworthy.
The proposed ceiling for quantum computing is also a big deal. Boston Consulting Group analysts believe that quantum computers will add $450 billion to $850 billion in value to the world economy by 2040.
But amid this flurry of optimism comes a warning from those who know IonQ, Rigetti Computing, and D-Wave Quantum well.
IonQ, Rigetti, and D-Wave send a $930 million wave to Wall Street.
Although management teams for these three companies are very optimistic about their long-term prospects, Form 4 documents with the Securities and Exchange Commission (SEC) tell a different story.
By law, insiders (executives, board members, and beneficial owners holding at least 10% of the outstanding shares) must report any trade in their stock, including the exercise of option contracts, to the SEC within two business days. According to Form 4 documents, entrants into a quantum computer cannot sell their positions quickly enough.
Modern Change
(-7.81%) $-2.33
Current Price
$27.51
Important Information Points
Market Cap
$10B
Location of the Sun
$27.38 – $29.60
52wk Range
$18.81 – $84.64
Volume
20M
Avg Vol
21M
Gross Margin
-2267.11%
Over the next five years, total insider sales have reached:
- IonQ: $575.7 million
- Abandon ComputingPrice: $60.3 million
- D-Wave QuantumPrice: $294.5 million
In total, more than 930 billion has been sold since mid-March 2021.
The asterisk in the above data is that not all inbound marketing is inherently bad. Since many public companies pay their executives and board members with common stock and/or options, it is common for insiders to sell their shares to pay off their federal or state income tax liability. Insider trading for tax purposes should not affect investors.
Modern Change
(-7.60%) $-1.09
Current Price
$13.31
Important Information Points
Market Cap
$4.4B
Location of the Sun
$13.22 – $14.34
52wk Range
$6.86 – $58.15
Volume
740K
Avg Vol
30M
Gross Margin
-8613.15%
However, this marketing process is also marked by very little domestic purchasing. Although there are several reasons to sell shares of a public company, not all of them bad, there is only one reason to buy: the belief that the shares will rise. Over the same five-year period, internal costs totaled $3.35 million for IonQ, $625,000 for Rigetti, and just $309,000 for D-Wave.
If insiders don’t buy, it’s likely that they don’t consider their property cheap. Since quantum computers are still years away from being more cost effective than traditional computers, this trio may lose money, burn money, and trade at excessive (and unrealistic) price-to-sales ratios.
Although quantum computing has a bright long-term outlook, the likes of IonQ, Rigetti Computing, and D-Wave Quantum may have jumped the gun.
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