The fast-growing investor interest in quantum computing has driven Rigetti Computing's ( NASDAQ:RGTI ) explosive more than 1,600% increase in shares this year. Former general attorney and corporate secretary Rick Danis of Rigetti lately profited from the stock's rise. Based on the closing price of $11.35 on the previous day, he sold 250,000 shares on December 26 for $3.70 million, almost 30% more than his projected $2.84 million. A regulatory disclosure states that the average price of the shares sold was $14.78 apiece.

On December 27, Danis scheduled another 250,000 share sale with an expected worth of $3.86 million. The shares exchanged that day, between $15.44 to $19.35, indicated the ultimate transaction most certainly exceeded first projections. Originally the general counsel of Bluetooth Special Interest Group, Danis left Rigetti in November. His sales were reported using SEC Form 144, which calls for shares received as compensation. As enthusiasm over industry developments rises, Rigetti, a quantum computing startup that went public in March 2022 via a SPAC transaction, has attracted notice. Its rise demonstrates investor interest in innovative technology stocks despite recent setbacks.

This article first appeared on GuruFocus .