Shares of D-Wave Quantum Inc. (QBTS) plunged 9.07% in intraday trading on Wednesday, as investors reacted to news of a significant insider stock sale proposal. The sharp decline comes amid concerns over potential shifts in company leadership confidence.

According to a Form 144 filing, D-Wave Quantum's President Alan E. Baratz has proposed to sell approximately 1.6 million shares of the company's common stock. The proposed transaction, dated November 11, 2025, carries an estimated market value of $46.99 million. This substantial sale by a key executive has sparked investor unease, likely contributing to the stock's significant drop.

While insider sales don't always indicate negative prospects for a company, the size and timing of this proposed transaction have clearly rattled the market. Investors often interpret large insider sales as a potential lack of confidence in the company's short-term growth prospects. As trading continues, market participants will be closely monitoring any additional statements from D-Wave Quantum regarding this proposed sale and its potential implications for the company's future.