Rigetti Computing ( (RGTI) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Rigetti Computing’s stock took a hit after the company reported Q1 earnings that fell short of expectations, with revenues of $1.5 million compared to the anticipated $2.5 million. Despite a net income of $42.6 million, mainly from non-cash gains, the revenue miss overshadowed positive news about strategic collaborations and technological advancements. This disappointment led to a downgrade in the stock’s outlook, as investor sentiment soured. The options market had predicted a volatile reaction, which indeed occurred after the earnings release.
More about Rigetti Computing
YTD Price Performance: -42.25%
Average Trading Volume: 47,948,652
Technical Sentiment Signal: Buy
Current Market Cap: $3.31B
For further insights into RGTI stock on TipRanks’ Stock Analysis page.
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