Why Rigetti Computing Stock Is Sinking Today
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 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 risky stocks.
Last week, Rigetti released its Q2 report, revealing that its sales and earnings were down significantly year over year. The company's $1.8 million in revenue was nearly 42% less than last year in the same period, and its net income dropped nearly 220% as the company lost nearly $40 million in the quarter.
Source Fool.com
