Movement Alert｜Rigetti Computing Falls 9.18% in Regular Trading, Semiconductor Sector Selloff Triggers Retracement of Prior Session Gains

Market Focus

Jul 28

On July 28, Rigetti Computing fell 9.18% in regular trading, trading at $14.37/share, with turnover of $96.91 million. The decline largely retraces the prior session's rally, during which the stock surged over 10% following the announcement of a $5 million National Science Foundation grant to build the TangleLab hybrid quantum-classical supercomputer in partnership with Hewlett Packard Enterprise and Pittsburgh Supercomputing Center.

The broader semiconductor sector came under significant selling pressure on the day, with Micron Technology down 9.88%, Advanced Micro Devices down 8.78%, SK Hynix down 8.19%, Intel down 7.49%, and NVIDIA down 0.25%. The systematic sector-wide selloff weighed heavily on quantum computing concept stocks including Rigetti. Construction of TangleLab is expected to begin on September 1, with full operations targeted for next year. The company is scheduled to report Q2 financial results on August 6.

(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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