These 10 Stocks Lost This Much Today

Ten stocks ended the trading week bleeding on Friday, much higher than Wall Street, as investors sold off positions to mitigate risks from a series of negative developments.

Meanwhile, Wall Street’s main indices lagged. The Dow Jones ended up, but only by 0.13 percent. The tech-heavy Nasdaq dropped 0.32 percent, while the S&P 500 dipped by 0.01 percent.

In this article, we identified 10 of Friday’s worst performers and detailed the reasons behind their drop.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

10. TAL Education Group (NYSE:TAL)

TAL Education saw its share prices drop by 7.53 percent on Friday to end at $9.83 apiece as investors sold off positions to mitigate the risks of President Donald Trump’s ongoing crackdown on Chinese students.

The move dealt a major blow to China, with the two countries currently on a 90-day tariff truce. Washington’s targeting of Chinese international students has dampened hopes for a longer-term trade agreement between the two nations.

Additionally, investors remained cautious about Chinese firms listed on US stock exchanges amid renewed calls from finance officials from federal states to have them forcefully removed.

Officials accused the firms of not complying with federal audit requirements, audit deficiencies, crackdowns on firms that do due diligence research on Chinese companies, alleged stock manipulation, as well as national security concerns.

TAL Education Group (NYSE:TAL) is a Chinese company listed only on the US stock exchange. While its core business is in China, it also operates in other countries such as Hong Kong, the US, Canada, and Singapore.

TAL Education Group (NYSE:TAL) is an education services company that is investing heavily in Artificial Intelligence in a bid to bolster its modern learning products and services.

9. Rigetti Computing, Inc. (NASDAQ:RGTI)

Rigetti Computing extended its losing streak to a third consecutive day on Friday, shedding 7.91 percent to finish at $12.11 apiece as investors sold off positions following a $350-million share sale that could pave the way for the potential dilution of existing shareholders’ equity.

Under the program, Jefferies LLC will act as the sales agent, facilitating stock sales directly on behalf of Rigetti Computing, Inc. (NASDAQ:RGTI).

In the first quarter of the year, Rigetti Computing, Inc. (NASDAQ:RGTI) swung to a net income attributable to shareholders of $38.2 million versus a $20.77 million net loss in the same period last year.

Revenues, on the other hand, fell by 52 percent to $1.47 million from $3.05 million in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year.

Rigetti Computing, Inc. (NASDAQ:RGTI) is banking on the series of partnerships it clinched recently, including its inclusion in the Defense Advanced Research Projects Agency’s Quantum Benchmarking Initiative, leading a 3.5-million euro consortium to advance quantum error correction capabilities on superconducting quantum computers in the UK, among others.