Rigetti Shares Pull Back After Quantum Rally, Market Eyes Next Catalyst
Rigetti shares fell 5.13% Tuesday to $25.07 after a sharp two-day rally tied to U.S. quantum funding news. Premarket trading Wednesday showed further declines. The company announced new manufacturing moves, including a PlasmaPro 100 Cobra tool purchase, and reported 99.5% median two-qubit gate fidelity on its Novera chip. The U.S. may award Rigetti up to $100 million over three years under the CHIPS Act.