We recently published a list of Traders Ditched These 10 Stocks. Here’s Why. In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against other worst-performing stocks.
Rigetti Computing declined for a second day on Thursday, dropping 7.13 percent to finish at $13.15 apiece as investors continued to book profits while repositioning portfolios amid the ongoing market uncertainties.
Last Tuesday, Rigetti Computing, Inc. rose to a four-month high of $14.19, after closing at $18.39 on January 7.
In the first quarter of the year, Rigetti Computing, Inc. 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.
A close up of an engineer typing at a quantum computing station in a modern office space.
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. is banking on the series of partnerships it clinched recently, including its inclusion to the Defense Advanced Research Projects Agency’s Quantum Benchmarking Initiative, leading of a 3.5-million euro consortium to advance quantum error correction capabilities on superconducting quantum computers in the UK, among others.
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This article is originally published at Insider Monkey.
