Rigetti Computing (RGTI) Sheds 8.3% as Investors Turn Pessimistic

We recently published 10 Stocks Already Hurting in December. Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the top performers on Monday.

Rigetti Computing dropped its share prices by 8.27 percent on Monday to close at $23.45 apiece, mimicking an overall market pessimism following the recent holiday rush.

Additionally, investors unloaded portfolios amid the company’s lack of positive developments to bolster buying appetite.

Early last month, Rigetti Computing, Inc. (NASDAQ:RGTI) announced its earnings performance in the third quarter of the year, where it widened its net loss by 1,257 percent to $200.97 million from $14.8 million in the same period last year.

Revenues dropped by 18 percent to $1.9 million from $2.38 million year-on-year.

Despite the dismal results, Rigetti Computing, Inc. (NASDAQ:RGTI) said that it saw strong momentum with both demand for on-premises quantum computers and collaborations on research and developments during the past quarter.

On the technology front, Rigetti Computing, Inc. (NASDAQ:RGTI) remains on track to deploy by the end of 2026 its 150+ qubit system with an anticipated 99.7 percent median two-qubit gate fidelity; as well as its 1,000+ qubit system with an expected median two-qubit gate fidelity of 99.8 percent by 2027.

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.