QBTS D-Wave Quantum Inc.
Price Chart
Executive Summary
CFO Markovich and EVP Nguyen sold a combined $10.1M in open-market sales within two days, with the CFO's sale ($9.1M) following a same-day derivative exercise at $0.92. The CFO's sale represents ~0.09% of market cap, just below the 0.1% materiality threshold, but the cluster pattern and C-suite involvement warrant attention. The derivative exercise at $0.92 and sale at $27.70 captures a massive gain, suggesting tax/planning motives rather than a bearish signal, though the timing near a potential earnings or offering event (per cross-filing amplifiers) merits monitoring.
Key Financial Metrics
Actionable Insight
The CFO's sale is likely tax/compensation-driven given the massive gain from a $0.92 exercise price, not a bearish signal. However, the cluster of two C-suite officers selling within 2 days, combined with cross-filing amplifiers pointing to potential offering or press context, suggests monitoring for a capital markets event (secondary offering or earnings) in the coming weeks. The 10b5-1 plan status is unknown — if these were pre-planned trades, the signal is even weaker.
Key Facts
- CFO Markovich sold 328,752 shares at $27.70 for $9.11M on 2026-05-22, after exercising derivatives at $0.92 per share on the same day
- EVP Nguyen sold 40,000 shares at $25.01 for $1.00M on 2026-05-21
- Total open-market sales: $10.11M, representing ~0.099% of $10.2B market cap
- CFO's derivative exercise was non-cash (code M); the sale was open-market (code S)
- Cross-filing amplifiers (cluster-insider-trades + cluster-offering-context, cluster-insider-trades + cluster-press-context) suggest elevated predictive power for this cluster pattern
Financial Impact
Total insider sales of $10.11M, ~0.1% of market cap — below the 0.1% materiality threshold but near it
Risk Factors
- CFO sold 328K shares in a single day — large absolute size could indicate planned diversification, but may spook retail investors
- Cross-filing amplifiers flag elevated predictive power for this cluster pattern, suggesting non-random timing
- Historical performance on QBTS reports shows poor win rate (29% T+20) and negative average alpha (-6.27%), indicating the stock often moves against the model's prior calls
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-QBTS-1779917504221 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 12, 2026
today
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144
| $23.46 awaiting T+1 | awaiting T+1 | — | $23.37 (+0.38%) |
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Jun 11, 2026
2d ago
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Institutional Cluster
| $22.55 awaiting T+1 | awaiting T+1 | — | $23.37 (+3.64%) |
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Jun 10, 2026
2d ago
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Insider Cluster
| $22.90 awaiting T+1 | awaiting T+1 | — | $23.37 (+2.05%) |
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Jun 9, 2026
3d ago
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144
| $23.40 awaiting T+1 | awaiting T+1 | — | $23.37 (+0.13%) |
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Jun 8, 2026
4d ago
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144
| $25.84 awaiting T+1 | awaiting T+1 | — | $23.37 (−9.56%) |
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Jun 8, 2026
4d ago
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144
| $25.78 awaiting T+1 | awaiting T+1 | — | $23.37 (+9.35%) |
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Jun 5, 2026
7d ago
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144
| $23.56 awaiting T+1 | awaiting T+1 | — | $23.37 (−0.81%) |
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Jun 2, 2026
10d ago
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144
| $27.55 $27.64 | ▲ +0.33% | ▼ −0.08% | $23.37 (−15.17%) |
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Jun 1, 2026
11d ago
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8-K
| $29.18 $29.91 | ▲ +2.50% | ▲ +2.36% | $23.37 (−19.91%) |
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May 27, 2026
16d ago
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Insider Cluster
| $29.49 $30.14 | ▲ +2.20% | ▲ +1.96% | $23.37 (−20.75%) |
US Market Status
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