The CFO's sale is routine pattern compliance (May 2026 equity grant vesting quarter-end). The $0.02% of market cap sold means zero market-impact signal. Ignore this cluster — treat it as rescheduled liquidity sale after last week's pre-offering blackout window lifted. Monitor next quarterly filing for progress on quantum computing revenue ramp; insider grants (non-cash) suggest board is aligning long-term incentives, not signaling distress.
Price Chart
Executive Summary
D-Wave CFO John Markovich sold ~$1.34M worth of stock and a director sold another $192K, totaling $1.53M in open-market selling within a week. The cluster is 99.9% by dollar value driven by the CFO's sale, and recent grant/award transactions to directors have no cash economic impact. At a $8.6B market cap, the sales represent only ~0.02% of market cap — a trivial amount, not a material signal. The net direction is selling, but the absolute magnitude relative to company size is noise.
Key Financial Metrics
Key Facts
- CFO Markovich sold 51,049 shares for ~$1.34M across two days (June 8 and June 9)
- Director DiLullo sold 7,850 shares for ~$192K on June 5
- All 5 non-executive directors received 9,357 shares each as grants on June 4 — $0 cash value
- Total open-market selling = ~$1.53M, representing just 0.018% of $8.6B market cap
- Cluster is 2 insiders selling; 5 grants are non-cash and carry no economic signal
- Historical performance on QBTS reports shows very high win rate (100% at T+20) and positive average alpha, but prior neutral calls also showed positive drift — this is a volatile stock where any small cluster may be inflated by noise
Financial Impact
Total insider selling of $1.53M is trivial relative to $8.6B market cap (~0.02%). No material financial impact.
Risk Factors
- CFO selling near high share price ($26+) could be read negatively by retail unaware of proportionality — potential short-term noise
- Stock is highly volatile (recent T+5 moves of -18% and +14% on similar neutral reads) — any insider activity may get exaggerated
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-QBTS-1781122098670 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | 8-K | $16.41 $17.11 | ▲ +4.27% | ▲ +3.45% | $16.34 (−0.40%) |
Sep 8, 2026 24d ago | 8-K | $17.67 $16.83 | ▼ −4.75% | ▼ −4.09% | $16.34 (−7.50%) |
Aug 25, 2026 5w ago | 8-K | $17.51 $16.49 | ▼ −5.83% | ▼ −5.71% | $16.34 (−6.65%) |
Aug 18, 2026 6w ago | 8-K | $19.53 $19.35 | ▼ −0.92% | ▼ −0.72% | $16.34 (−16.31%) |
Aug 17, 2026 6w ago | 8-K | $20.87 $18.68 | ▼ −10.49% | ▼ −9.30% | $16.34 (−21.68%) |
Aug 6, 2026 8w ago | 8-K | $19.41 $20.90 | ▲ +7.70% | ▲ +6.49% | $16.34 (−15.77%) |
Aug 3, 2026 8w ago | 8-K | $19.98 $16.21 | ▼ −18.87% | ▼ −20.90% | $16.34 (−18.19%) |
Jul 27, 2026 9w ago | 8-K | $19.51 $18.08 | ▼ −7.33% | ▼ −8.40% | $16.34 (−16.22%) |
Jul 24, 2026 10w ago | 8-K | $16.21 $17.98 | ▲ +10.92% | ▲ +10.55% | $16.34 (+0.83%) |
Jul 14, 2026 11w ago | 8-K | $18.95 $16.72 | ▼ −11.77% | ▼ −10.47% | $16.34 (−13.75%) |
US Market Status
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