🔴 Defiance Daily Target 2X Long RGTI ETF drops 5.31% as heavy insider selling at Rigetti spooks investors

The Defiance Daily Target 2X Long RGTI ETF is extending its sharp decline, falling another 5.31% after a -20.63% drop on June 3. The sell-off in the underlying stock, Rigetti Computing (RGTI), appears to be driven by significant and recent stock sales from top executives.

• CTO Sale: Rigetti's Chief Technology Officer, David Rivas, sold nearly $12.7 million of company stock (499,328 shares), according to a June 1 regulatory filing.
• CEO & Director Sales: The company's CEO, Subodh K. Kulkarni, also sold over $2.6 million worth of shares on May 28 and June 1. Additionally, a company director sold 57,156 warrants on June 2 and June 3.