Rigetti Computing (RGTI) stock plunged 40% in a month as CEO Subodh Kulkarni sold his entire position at $12 per share. The company only generated $1.95M in Q3 revenue while burning through $200.97M in cash. Despite an 18.1% revenue decline, the company trades at 1,033x sales on a $7.74B market cap.

Shares of Rigetti Computing (NASDAQ: RGTI) tumbled 40% in a month, dropping from $39 to $23.45. Retail investors on platforms like Reddit are concerned about insider selling, revenue declines, and extreme valuations in the quantum computing sector. CEO Subodh Kulkarni selling his entire position at $12 per share raised red flags.

IonQ (NYSE: IONQ) fell 42.6% from its peak to $47.12, while Quantum Computing Inc (NASDAQ: QUBT) crashed 55.5% to $10.95. Both companies peaked in mid-October before seeing a significant decline in retail enthusiasm. IonQ trades at 209x sales on $79.8M revenue, while QUBT has a 4,495x sales ratio on just $546K in revenue.

Investors should keep an eye on the quantum computing sector for any insider purchases indicating management confidence. The synchronized crash of these stocks suggests speculative excess rather than company-specific issues. Recovery depends on broader risk appetite returning to highly speculative technology plays.

Read more at Yahoo Finance: Rigetti Computing Drops 40% as CEO Holds Zero Shares and Revenue Falls 18%