Rigetti Computing Inc's (NASDAQ:RGTI) CEO, Subodh K. Kulkarni, exercised options to convert 1,000,000 shares on May 21, 2025, and immediately sold them, leaving him with zero shares. In a growth-tech environment where executive ownership signals conviction, this move has ignited questions about leadership commitment at the quantum computing startup.
Insider Transactions Raise Eyebrows
According to Benzinga Pro insider data, Kulkarni's zero-share position stands out. Other insiders, including Director Ray O. Johnson, have also sold shares recently, adding to the scrutiny. These filings reveal a pattern that some investors interpret as a lack of confidence, sparking debates over whether Rigetti's leadership is genuinely committed to the company's long-term vision.
Read Also: EXCLUSIVE: Rigetti Turns Contracts Into Credibility On Its 4-Year Quantum Roadmap
Reddit Reacts: Skepticism Runs High
Investor sentiment on Reddit has been candid and critical. One user bluntly remarked:
"Quantum is totally overhyped and overbought."
Another warned about the broader sector, highlighting strength in IBM (NYSE:IBM) and Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG):
"All pure quantum is a scam. The only listed company which is actually trustworthy is IBM. And maybe Alphabet."
Some even saw the move as justified:
"Rigetti CEO is one of the few honest people in quantum. He openly stated that revenues are not coming anytime soon, and that the company is overvalued. Of course he is selling shares, it is consistent with what he said."
Leadership Without Skin In The Game
Rigetti's lack of insider ownership doesn't necessarily predict performance, but in a sector already scrutinized for hype and unproven commercial models, a CEO holding zero shares is unusual.
For a company promising breakthroughs in quantum computing, investor confidence is partly tethered to whether its leadership is personally betting on success.
As Rigetti races to commercialize quantum technology, all eyes are on whether its executives' actions align with their lofty promises—or whether Kulkarni's zero-share stance is a cautionary signal for investors. The stakes are high, and in the world of quantum computing, conviction—or the lack of it—can be just as important as the technology itself.
Rigetti did not immediately respond to requests for comment.
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