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Why Rigetti Computing Stock Is Plummeting This Week Msn

Bonisiwe Shabane
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why rigetti computing stock is plummeting this week msn

Rigetti Computing stock is getting hit with strong bearish pressures as inflation-related concerns have come into focus. Home Depot says that it will be raising prices on some items as a result of tariffs, which has highlighted broader inflationary dynamics. Higher inflation will make it less likely that the Federal Reserve serves up the levels of interest rate cuts that growth investors are looking for. Rigetti Computing (NASDAQ: RGTI) stock is seeing a precipitous sell-off in Tuesday's trading. The company's share price was down 8.7% as of 2:45 p.m. ET amid a 0.7% pullback for the S&P 500 (SNPINDEX: ^GSPC) and a 1.5% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC).

The stock had been down as much as 9.6% earlier in the day. While Rigetti Computing doesn't have any direct connection to the home-improvement retail space, its stock is getting hit with selling pressures today in response to recent comments from Home Depot's management. The retail giant said today that it will be raising prices on some items in its store in response to tariff-related costs, and investors are taking the news as a worrying inflation indicator. Rigetti Computing, Inc., through its subsidiaries, builds quantum computers and the superconducting quantum processors the United States, the United Kingdom, rest of Europe, Asia, and internationally. The company offers quantum processing units (QPUs) and quantum computing systems through the cloud in the form of quantum computing as a service (QCaaS) products. It also provides 9- ubit quantum processing unit under the Novera QPU trade name; 84-qubit Ankaa-3 system under the name Novera QPU; and sells access to its quantum computers through QCa...

[Read more] In 2024, Rigetti Computing's revenue was $10.79 million, a decrease of -10.14% compared to the previous year's $12.01 million. Losses were -$200.99 million, 167.6% more than in 2023. According to 8 analysts, the average rating for RGTI stock is "Buy." The 12-month stock price target is $29.38, which is an increase of 32.64% from the latest price. When it comes to investing themes over the past several years, stocks with exposure to artificial intelligence or building AI products have been widely followed. A market expert shares with Benzinga w...

Charlie Garcia responds to readers about the opportunities and obstacles for investors in quantum computing. Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the... Thomas Fuller / SOPA Images / LightRocket via Getty Images Rigetti Computing (RGTI) shares slumped 10% Tuesday, a day after the provider of quantum computing services' sales sank and its profit came from an accounting gain. The company reported first-quarter revenue plunged 52% year-over-year to $1.5 million. Rigetti did post earnings per share of $0.13, compared to a $0.14 loss the previous year.

However, net income of $42.6 million included $62.1 million in "non-cash gains from the change in fair value of derivative warrant and earn-out liabilities." According to a transcript provided by AlphaSense, CFO Jeffrey Bertelsen told analysts on the earnings call Monday that "lower gross margins on a year-over-year basis were due to ongoing revenues from our contract with... Rigetti Computing (NASDAQ: RGTI) stock is crashing in this week's trading. The quantum computing company's share price is down 47.2% from last Friday's market close as of Wednesday, according to data from S&P Global Market Intelligence. With the stock market closed today in remembrance of President Jimmy Carter, Rigetti Computing has only seen three days of trading so far this week. But even with the abbreviated trading session, the company's share price has seen a massive pullback due to bearish comments from Nvidia president Jensen Huang, as well as macroeconomic risk factors.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. See the 10 stocks » Speaking at an event for analysts at this year's CES, Nvidia CEO Jensen Huang gave his outlook on the quantum computing space -- and his comments triggered crushing sell-offs for Rigetti and other specialists... Huang stated that quantum computers wouldn't be an ideal solution for many computing problems, and he also poured cold water on hopes that the technology would be ready for commercial use anytime soon. Huang said: "If you kind of said 15 years for very useful quantum computers, that'd probably be on the early side.

If you said 30 is probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." While Huang thinks that quantum computing could ultimately be used to push artificial intelligence (AI) forward, his outlook for... Rigetti Computing (NASDAQ: RGTI) stock is crashing in this week's trading. The quantum computing company's share price is down 47.2% from last Friday's market close as of Wednesday, according to data from S&P Global Market Intelligence. With the stock market closed today in remembrance of President Jimmy Carter, Rigetti Computing has only seen three days of trading so far this week. But even with the abbreviated trading session, the company's share price has seen a massive pullback due to bearish comments from Nvidia president Jensen Huang, as well as macroeconomic risk factors.

Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Speaking at an event for analysts at this year's CES, Nvidia CEO Jensen Huang gave his outlook on the quantum computing space -- and his comments triggered crushing sell-offs for Rigetti and other specialists... Huang stated that quantum computers wouldn't be an ideal solution for many computing problems, and he also poured cold water on hopes that the technology would be ready for commercial use anytime soon. Huang said: "If you kind of said 15 years for very useful quantum computers, that'd probably be on the early side.

If you said 30 is probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." While Huang thinks that quantum computing could ultimately be used to push artificial intelligence (AI) forward, his outlook for... Rigetti Computing Inc (NASDAQ:RGTI) and other quantum computing stocks are trading lower on Wednesday afternoon, caught in a broader market downturn. Here’s what investors need to know. What To Know: The sell-off is exacerbated by a Reuters report that the U.S. is considering new curbs on exports of technology utilizing U.S.

software to China. This move has cast a shadow over the tech sector, creating uncertainty and prompting investors to reduce their exposure to companies with potential international supply chain vulnerabilities. The decline comes despite a recent surge in optimism for the quantum computing industry. Just last week, the sector received a boost from news that JPMorgan Chase was considering significant investments in quantum computing as part of a national security initiative. The Trump administration has also shown support for the industry, signing the National Quantum Initiative Act to accelerate development. The potential for new export restrictions is a significant headwind that is currently overshadowing the long-term positive outlook for companies like Rigetti.

The new regulations could limit market access and increase operational costs, creating a challenging environment for growth and innovation in the near term. Benzinga Edge Rankings: Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell. Despite Wednesday’s downturn, RGTI maintains an exceptional Benzinga momentum score of 99.89.

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Rigetti Computing Stock Is Getting Hit With Strong Bearish Pressures

Rigetti Computing stock is getting hit with strong bearish pressures as inflation-related concerns have come into focus. Home Depot says that it will be raising prices on some items as a result of tariffs, which has highlighted broader inflationary dynamics. Higher inflation will make it less likely that the Federal Reserve serves up the levels of interest rate cuts that growth investors are looki...

The Stock Had Been Down As Much As 9.6% Earlier

The stock had been down as much as 9.6% earlier in the day. While Rigetti Computing doesn't have any direct connection to the home-improvement retail space, its stock is getting hit with selling pressures today in response to recent comments from Home Depot's management. The retail giant said today that it will be raising prices on some items in its store in response to tariff-related costs, and i...

[Read More] In 2024, Rigetti Computing's Revenue Was $10.79 Million,

[Read more] In 2024, Rigetti Computing's revenue was $10.79 million, a decrease of -10.14% compared to the previous year's $12.01 million. Losses were -$200.99 million, 167.6% more than in 2023. According to 8 analysts, the average rating for RGTI stock is "Buy." The 12-month stock price target is $29.38, which is an increase of 32.64% from the latest price. When it comes to investing themes over ...

Charlie Garcia Responds To Readers About The Opportunities And Obstacles

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However, Net Income Of $42.6 Million Included $62.1 Million In

However, net income of $42.6 million included $62.1 million in "non-cash gains from the change in fair value of derivative warrant and earn-out liabilities." According to a transcript provided by AlphaSense, CFO Jeffrey Bertelsen told analysts on the earnings call Monday that "lower gross margins on a year-over-year basis were due to ongoing revenues from our contract with... Rigetti Computing (NA...