Quantum computing stocks experienced a sharp rally over the past two days, with companies such as IonQ (IONQ), D-Wave Quantum (QBTS), Rigetti Computing (RGTI), and Quantum Computing Inc. (QUBT) posting significant gains. The surge followed a Barron's story highlighting IonQ's ambitions to become the 'Nvidia of Quantum Computing' and was further fueled by positive sentiment from recent conferences and media coverage. D-Wave Quantum led the sector's recovery, with its market value more than doubling since early January and surpassing its pre-Nvidia remarks level. The company reported record quarterly revenues, attributed to the sale of a quantum computing system, and now has a higher market capitalization than before Nvidia CEO Jensen Huang's comments that quantum computers would take decades to become 'very useful.' On May 22, D-Wave Quantum's CEO sold one quarter of his holdings, with an aggregate market value sale amount of $14,378,821 at an implied average selling price of $17, and the CFO, John Markovich, sold 400,000 shares for approximately $6.6 million, representing 18.3% of his beneficial ownership. RGTI's CTO also conducted insider sales. Options trading volume surged across the sector, with QBTS seeing 185,000 options contracts traded and IONQ 79,000 contracts. RGTI experienced heavy call option activity and was up 25% on May 22, while IONQ gained 39%, QBTS 24%, and QUBT 15.6% on May 23. The leveraged ETF IONX rose 73% on the day. IonQ announced a partnership with the Korea Institute of Science and Technology Information (KISTI) to support South Korea's quantum computing ambitions. Meanwhile, PsiQuantum is in discussions with Nvidia for a potential investment as it seeks to raise new capital. Despite aggressive valuations and ongoing insider sales, quantum computing stocks have erased all losses incurred after Nvidia's earlier skepticism and reached new highs.
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Quantum Investor: $QBTS CEO's Form 144 aggregate market value sale amount of $14,378,821 is actually an equivalent amount of options and the implied ASP of $17 is functionally a strike; CEO believes $QBTS is going way higher. Reality: $QBTS CEO just filed a Form 4 showing he https://t.co/pNw0bHvr9b
$QBTS | D-Wave Quantum Inc Insider Selling https://t.co/j5HDlvh0V5