We recently published 10 Stocks With Massive Losses; AI stocks are not spared. Rigetti Computing, Inc. (NASDAQ:RGTI) had one of the worst results on Monday.
Rigetti Computing fell for a third straight day on Monday as investors sold positions in quantum computing stocks to shift into companies with higher revenues amid the third-quarter earnings season.
Rigetti Computing, Inc. (NASDAQ:RGTI) fell along with its peers, namely Quantum Computing Inc., IonQ Inc. and D-Wave Quantum Inc., suggesting that investor appetite for quantum computing stocks has waned and shifted toward the nation’s top earners.
The quantum computing industry, on the other hand, remains a profitless sector despite rising valuations and government support, and relies primarily on a series of fundraising programs to accelerate business expansion.
In other developments, Rigetti Computing Inc. (NASDAQ:RGTI) recently received new orders worth $5.7 million for its Novera 9-qubit computing system, ideal for conducting research to better understand key areas of quantum computing, including qubit operation, control system optimization, test design, gate characterization, decoherence mitigation, and development of more efficient quantum algorithms.
While we recognize the potential of RGTI as an investment, our conviction lies in the belief that some AI stocks have more promise to generate higher returns and have limited downside risk. If you’re looking for an extremely cheap AI stock that’s also one of the biggest beneficiaries of Trump’s tariffs and offshoring, check out our free report on the best short-term AI stock.
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Disclosure: None. This article was originally published in Internal jumpsuit.