Angelica Ballesteros
3 min read
In This Article:
We recently published an article titled Massive Sell-Offs Just Hit These 10 Stocks Today. In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against the other stocks.
Wall Street’s main indices finished mixed on Tuesday, as investors digested the country’s latest inflation figures, which came out lower than expected.
On Tuesday, the Labor Department reported that the Consumer Price Index for April rose by only 0.2 percent last month, bringing the annual inflation rate to 2.3 percent, versus the 2.4 percent in March. It was the lowest annual rate since February 2021.
Only the S&P 500 and the tech-heavy Nasdaq registered gains among all major indices, up by 0.72 percent and 1.61 percent, respectively. The Dow Jones, on the other hand, was down by 0.64 percent.
Beyond the main indices, 10 firms lagged in performance amid negative news, sparking sell-offs.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A close up of an engineer typing at a quantum computing station in a modern office space.
Rigetti Computing, Inc. (NASDAQ:RGTI) snapped a three-day winning streak on Tuesday, losing 14.59 percent to finish at $9.86 apiece following a significant drop in its topline figures in the first three months of the year.
In a statement, Rigetti Computing, Inc. (NASDAQ:RGTI) said revenues fell by 52 percent to $1.47 million from $3.05 million in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year.
Total operating expenses also grew by 22 percent to $22.07 million from $18.08 million in the same comparable period.
Earlier this year, Rigetti Computing, Inc. (NASDAQ:RGTI) a number of projects from the US and UK governments, reflecting its stronghold in the quantum computing sector. This includes its participation in DARPA’s Quantum Benchmarking Initiative, grant of AFOSR award to further develop breakthrough chip fabrication technology, as well as three Innovate UK Quantum Mission pilot awards to advance superconducting quantum computing.
Overall RGTI ranks 4th on our list of Tuesday's worst performers. While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RGTI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
