@Ok_West_5560 3 months ago
Rigetti Computing down 40% as CEO sells entire position
Rigetti Computing down 40% as CEO sells entire position
Rigetti Computing dropped 40% over the last month and is currently trading around $23. The sell-off coincides with the CEO selling his entire stake at $12 per share, leaving him with zero shares. The CTO and CFO also sold shares recently around $26.
Financials show Q3 revenue was $1.95M, down 18% from last year, while the company burned through $200M. Despite the drop, the stock trades at over 1,000x sales. The broader quantum sector is also struggling, with IonQ and Quantum Computing Inc down roughly 40-50% from their October highs.
finance.yahoo.com
| Rigetti Computing Drops 40% as CEO Holds Zero Shares and Revenue Falls 18%
@ProduceCut309 3 months ago
Rigetti getting smoked like this ain’t shocking when the whole C-suite is cashin’ out. CEO dumps his entire bag at $12, stock’s sittin’ at $23, revenue shrinking, and they’re burnin’ money like a broke furnace. Plus a 1,000x sales valuation? Yeah… that’s wild. Quantum names all lookin’ shaky right now.