Movement Alert｜Rigetti Computing Falls 8.71% in Regular Trading, Semiconductor Sector Selloff Compounds Prior Gains Reversal

Market Focus

Jul 30

On July 29, Rigetti Computing fell 8.71% in regular trading, trading at $13.255/share, with turnover of $220 million. The stock extended its previous session's decline as the broader semiconductor sector faced persistent selling pressure.

On the sector front, semiconductors experienced broad-based weakness, with Micron Technology down 8.66%, Advanced Micro Devices down 4.50%, Intel down 3.09%, NVIDIA down 2.69%, and SK hynix down 1.20%. The systematic sector-wide pressure continued to weigh heavily on quantum computing concept stocks including Rigetti.

Looking back, Rigetti had surged over 10% on July 27 after announcing a $5 million National Science Foundation grant to partner with Hewlett Packard Enterprise and Pittsburgh Supercomputing Center on the TangleLab hybrid quantum-classical supercomputer project. However, consecutive declines over two trading days have now fully erased those gains. The company is scheduled to report Q2 financial results on August 6, with consensus EPS expected at -$0.05.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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