Shares of D-Wave Quantum Inc. (QBTS) plummeted 9.07% during Wednesday's intraday trading session, following news of a significant proposed stock sale by the company's President. The sharp decline comes as investors react to potential insider selling, which often raises concerns about a company's future prospects.

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, has an estimated market value of $46.99 million. This substantial sale by a high-ranking executive has likely triggered investor anxiety, contributing to the stock's steep decline.

While insider sales can occur for various reasons, including personal financial planning, the size and timing of this proposed transaction have clearly spooked the market. Investors often interpret large insider sales as a lack of confidence in the company's short-term prospects or valuation. As the market digests this information, it remains to be seen how D-Wave Quantum will address investor concerns and what impact this will have on the stock's performance in the coming days.