Rigetti Computing (RGTI) saw its stock plummet 5.25% in pre-market trading on Friday, as part of a broader downturn in the quantum computing sector. The decline in Rigetti's stock price aligns with a general slump observed across multiple quantum computing companies.
The quantum computing industry is experiencing widespread selling pressure, with several key players seeing significant drops in their stock prices. IonQ led the decline with a 7% drop, followed by D-Wave Systems, which fell 5%. Rigetti Computing and Arqit Quantum both saw their shares slide by approximately 4%, while Sealsq and Quantum Computing Inc. experienced more modest declines of around 3%.
This sector-wide downturn suggests that investors may be reassessing the near-term prospects of quantum computing technologies or responding to broader market trends affecting high-tech and speculative stocks. As the quantum computing industry continues to evolve, such volatility may reflect the challenges and uncertainties these companies face in commercializing their cutting-edge technologies.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.