Rigetti Computing (RGTI) Extends Losses as Funds Flee to Big Names

We recently published 10 Stocks With Massive Losses; AI Stocks Not Spared. Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the worst performers on Monday.

Rigetti Computing fell for a third day on Monday, as investors sold off positions in quantum computing stocks to shift to the bigger earners amid the third quarter earnings season.

Rigetti Computing, Inc. (NASDAQ:RGTI) dropped alongside its counterparts, namely Quantum Computing Inc., IonQ Inc., and D-Wave Quantum Inc., suggesting that investor appetite for quantum computing stocks has tapered off and shifted to the country’s largest earners.

The quantum computing industry, on the other hand, remains a pre-profit sector despite rising valuations and government backing, relying mostly on a series of fundraising programs to ramp up business expansion.

In other developments, Rigetti Computing Inc. (NASDAQ:RGTI) recently received $5.7 million worth of new orders for its 9-qubit Novera computing system, ideal for pursuing research to better understand key areas of quantum computing, including how qubits operate, optimizing control systems, testing design, characterizing gates, mitigating decoherence, and developing more efficient quantum algorithms.

While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.