University of Kwazulu-Natal

Why Rigetti Computing Stock Is Sinking Today The Globe And Mail

Bonisiwe Shabane
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why rigetti computing stock is sinking today the globe and mail

Q2 revenue was $1.8 million, down roughly 42% year over year; net loss neared $40 million. Soft jobs data and hotter-than-expected inflation data weighed on risk assets like quantum stocks. Shares of Rigetti Computing(NASDAQ: RGTI) are sinking on Tuesday, down 8.7% as of 2:46 p.m. ET. The drop comes as the S&P 500 loses 0.7% and the Nasdaq Composite loses 1.5%. The quantum computing company's stock is continuing its slide after its recent earnings failed to impress investors and as macro concerns about the direction of the economy are leading investors to jump out of...

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Shares of Rigetti Computing Inc. (NASDAQ:RGTI) slipped Monday after B. Riley Securities analyst Craig Ellis downgraded the stock from Buy to Neutral, even as he raised the price forecast from $35 to $42.

The pullback follows a recent rally fueled by speculation that the U.S. Commerce Department was considering taking equity stakes in key quantum computing firms, including Rigetti, to bolster national security. Although the department later clarified it was not engaged in active talks, the report had already sparked optimism about potential government support for the sector. Also Read: Rigetti, Joby, QuantumScape — Meet The $0 Revenue Moonshots The quantum computing space also drew renewed attention during NVIDIA Corporation’s (NASDAQ:NVDA) GTC event in Washington, D.C., which featured discussions on advancements in quantum technology. Q2 revenue was $1.8 million, down roughly 42% year over year; net loss neared $40 million.

Soft jobs data and hotter-than-expected inflation data weighed on risk assets like quantum stocks. Shares of Rigetti Computing (NASDAQ: RGTI) are sinking on Tuesday, down 8.7% as of 2:46 p.m. ET. The drop comes as the S&P 500 loses 0.7% and the Nasdaq Composite loses 1.5%. The quantum computing company's stock is continuing its slide after its recent earnings failed to impress investors and as macro concerns about the direction of the economy are leading investors to jump out of... Where to invest $1,000 right now?

Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Shares of Rigetti Computing(NASDAQ: RGTI) are plummeting on Tuesday. The quantum computing company's stock plunged 10% as of 12:46 p.m. ET and was down as much as 12.5% earlier in the day. The steep decline comes as the S&P 500(SNPINDEX: ^GSPC) and Nasdaq Composite(NASDAQINDEX: ^IXIC) were up 0.8% and 1.6%, respectively.

The quantum computing pioneer reported mixed Q1 2025 results on Monday after the market closed. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Rigetti posted its first-quarter results on Monday, revealing earnings per share (EPS) of $0.13. For the same period last year, the company lost $0.14 per share.

The shift to operating in the black was overshadowed, however, by the massive drop in sales. The company reported a top-line revenue decline of 51% year over year (YOY). The $1.5 million came in far below the expected $2.6 million. 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...

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Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Shares of Rigetti Computing Inc. (NASDAQ:RGTI) slipped Monday after B. Riley Securities analyst Craig Ellis downgraded the stock from Buy to Neutral, even as he raised the price forecast from $35 to $42.

The Pullback Follows A Recent Rally Fueled By Speculation That

The pullback follows a recent rally fueled by speculation that the U.S. Commerce Department was considering taking equity stakes in key quantum computing firms, including Rigetti, to bolster national security. Although the department later clarified it was not engaged in active talks, the report had already sparked optimism about potential government support for the sector. Also Read: Rigetti, Job...

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Soft jobs data and hotter-than-expected inflation data weighed on risk assets like quantum stocks. Shares of Rigetti Computing (NASDAQ: RGTI) are sinking on Tuesday, down 8.7% as of 2:46 p.m. ET. The drop comes as the S&P 500 loses 0.7% and the Nasdaq Composite loses 1.5%. The quantum computing company's stock is continuing its slide after its recent earnings failed to impress investors and as mac...

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Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Shares of Rigetti Computing(NASDAQ: RGTI) are plummeting on Tuesday. The quantum computing company's stock plunged 10% as of 12:46 p.m. ET and was down as much as 12.5% earlier in the day. The steep decline comes as the S&P 500(SNPINDEX: ^GSPC) and Nasdaq Composite(NASDAQINDEX: ^IXIC) were up 0.8...