Why Rigetti Computing Stock Is Sinking Today
Q2 revenue was $1.8 million, down roughly 42% year over year; net loss neared $40 million.
Soft jobs data and hotter-than-expected inflation data weighed on risk assets like quantum stocks.
10 stocks we like better than Rigetti Computing ›
Shares of Rigetti Computing (NASDAQ: RGTI) are sinking on Tuesday, down 8.7% as of 2:46 p.m. ET. The drop comes as the S&P 500 loses 0.7% and the Nasdaq Composite loses 1.5%.
The quantum computing company's stock is continuing its slide after its recent earnings failed to impress investors and as macro concerns about the direction of the economy are leading investors to jump out of risky stocks.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »
Rigetti Computing stock drops on weak Q2 and macro jitters
Last week, Rigetti released its Q2 report, revealing that its sales and earnings were down significantly year over year. The company's $1.8 million in revenue was nearly 42% less than last year in the same period, and its net income dropped nearly 220% as the company lost nearly $40 million in the quarter.
While the loss was exacerbated by some one-off accounting charges, the performance still showed how far the company is from justifying its current market cap of nearly $5 billion.
Adding to the pain, recent economic data is putting pressure on riskier stocks like Rigetti. The latest jobs report shows the economy may be slowing, while at the same time, inflation numbers came in higher than expected.
Investors should be cautious
The company did share some promising operational updates and leaps in its technological development in its earnings release, but I believe we are likely many, many years, if not decades, away from viable quantum computing. Despite this, Rigetti and other quantum computing companies are reaching multibillion-dollar valuations already. I think there is a major disconnect here, and quantum investors may get burned if the economy does really take a dive.
Should you invest $1,000 in Rigetti Computing right now?
Before you buy stock in Rigetti Computing, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rigetti Computing wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,466!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,633!*
Now, it's worth noting Stock Advisor's total average return is 1,076% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of August 18, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
22 minutes ago
- CTV News
‘We're going to miss it': Beloved pub not part of redevelopment plan
Things have been pretty much the same at the old Riverview mall for years now, but that's about to change in a big way. It's mostly deserted, with only a handful of tenants, but new developers have big plans. Steve McGarrity, a Riverview resident, welcomes the change. 'Absolutely, it's time. It's been this way for a number of years. At one point years ago it was a full mall and now it's just down to a vacant call centre. It's well overdue,' said McGarrity. The mall was purchased by The Gray Group and Doucet Developments last year. Gray Group Vice-President of Operations Michael Taweel said an interior demolition has already begun. The back portion of the mall will be demolished this fall. The front façade will be updated and new tenants will move in as part of the first phase. A proposed conceptual rendering reveals a residential part of the project will be a later phase. Taweel said there's no specific timeline for the new apartment building units. 'We're going to focus on the front part on the commercial side, getting the demolition done,' said Taweel. 'Get a new look, a fresh look to the site.' Taweel said there are already interested parties from retail and fast-food restaurant chains and he hopes to confirm new tenants in the coming weeks and months. But a beloved 33-year-old neighbourhood pub is not part of the plan. Fox n Hound Co-owner Curtis Strickland, who has owned the bar since 2012, said they'll have to close at the end of September for financial reasons. Curtis Strickland Fox n Hound Co-owner Curtis Strickland. (CTV Atlantic/ Derek Haggett) Strickland said they worked with the new landlords to try and find a different spot inside the mall, but a deal couldn't be reached. 'They were asking a bit too much for our margins,' said Strickland. 'It's like if your rent almost tripled tomorrow.' Strickland said there's no animosity with the developers or the property management group who he's been dealing directly with. 'No, not at all,' said Strickland. 'They've been really open to us and straightforward. They're not ghosting or ducking questions.' They've thought about relocating, but can't find a spot in their budget right now. He called the communication with the new owners 'hazy' and said it could have been better. 'I've talked to a few of the other tenants, I think there's four right now, and they felt the same kind of sentiment,' said Strickland. Taweel didn't want to get into specifics about the Fox n Hound's situation saying they're still a tenant, but said their sales team worked with the pub to seek out another location on site. 'But unfortunately this past week they announced it just wasn't going to work for them,' said Taweel. A bar in the mall is something that's always been there as long as most Riverview residents can remember. Allison Wilson has been a loyal customer for years and came for her birthday lunch on Wednesday. 'It's like coming home when you come here. People know your name. A lot of times they know what you drink, they might know your favourite meal and there's always a hug. I've seen a lot of different celebrations good and bad happen in here. We're going to miss it,' said Wilson. Kathy Prosser said change is inevitable. 'But I think it's unfortunate that when people move in and make these kind of changes they don't consider the neighbourhood,' said Prosser. 'That's a neighbourhood staple and people come here for entertainment. There's live bands here. All the people that are employed here are from this area so it's going to be a huge loss.' Pam Stephenson is the owner of Physio in Motion and has been a tenant inside the mall for years. Pam Stephenson Pam Stephenson owner of Physio in Motion. (CTV Atlantic/ Derek Haggett) She met the new owners last fall and was told the property would be developed, but no concrete details were given. Early this year Stephenson said she was told developers were looking at major renovations, including taking down parts of the building, but it wouldn't impact her. By the spring, she said their plans had changed and the part of the mall where her clinic is located was slated for demolition. 'I received an eviction notice the end of May effective the first of June and 90 days to vacate,' said Stephenson. While Stephenson doesn't think she was wronged in any way, she would have appreciated more communication from the new owners. 'I feel that the process was not transparent, that there was very little communication. I actually wasn't involved in the process that I was promised,' said Stephenson. 'I felt very much surprised and taken a back and very much not part of the process.' Again, Taweel didn't want to comment directly on a tenant's lease situation. 'Those are conservations between us and the tenant directly so I don't want to speak on any relations when it comes to that,' said Taweel. Stephenson is moving to a new location at the start of September. As for Strickland, he's still trying to find a new home for the Fox n Hound, but admits his options are limited. Ever since he made the closure announcement on the pub's Facebook page there's been an overwhelming amount of love and support. Strickland said the bar is a second home to some people where they can come alone and find a friendly face to talk to. 'That's going to be missed, big time,' said Strickland. The Fox's last day in business, at least for now, is Sept. 30. Taweel said demolition of the back portion of the mall should last a few weeks. Riverview place mall Riverview place mall is set to undergo renovations this fall. (CTV Atlantic/Derek Haggett) For more New Brunswick news, visit our dedicated provincial page.
Globe and Mail
22 minutes ago
- Globe and Mail
Helix Energy Solutions Awarded Multi-Year Contract in the Gulf of America
Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it has been awarded a multi-year contract with a major operator to provide production enhancement and well abandonment services in the U.S. Gulf of America. The contract, commencing in 2026, includes a minimum commitment of vessel utilization, split over three years. The contract calls for the provision of either the Q5000 or Q4000 riser-based well intervention vessel, a 10k or 15k Intervention Riser System (IRS) and remotely operated vehicles as well as project management and engineering services. Our services cover operations from fully integrated production enhancement to fully integrated plug and abandonment well services. The contract includes equipment and services as part of our Subsea Services Alliance, a strategic partnership between Helix and SLB that combines our collective strengths to deliver industry-leading subsea solutions. Scotty Sparks, Helix's Executive Vice President and Chief Operating Officer, stated, 'We are pleased to expand our backlog by successfully executing another multi-year contract for well intervention services. This contract underscores our commitment to delivering safe, cost-effective and efficient production enhancement and abandonment services in the Gulf of America, supported by Helix's advanced vessels, decades of industry-leading experience, and the collaborative capabilities of our Subsea Services Alliance.' About Helix Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and decommissioning operations. Our services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments. For more information about Helix, please visit our website at About Subsea Services Alliance For more information about the Subsea Services Alliance, please visit its website at Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the agreement, the equipment and services thereunder and the parties thereto; the current market or demand for our services; our ability to enter into, renew and/or perform commercial contracts; our current work continuing; and any impact on our financial and operating results and estimates; any statements regarding our strategy; any statements regarding our business model or the global energy transition; and any statements of assumptions underlying any of the foregoing. The forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the terms of the agreement and/or any work thereunder or extension thereof; actions by governments, customers, suppliers and partners; market conditions; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ultimate ability to realize current backlog; employee management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the Securities and Exchange Commission (the 'SEC'), including Helix's most recently filed Annual Report on Form 10-K and in Helix's other filings with the SEC, which are available free of charge on the SEC's website at We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by the securities laws.
Globe and Mail
33 minutes ago
- Globe and Mail
Rubicon Technology, Inc. to acquire Janel Group LLC
BENSENVILLE, Ill. and NEW YORK, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Rubicon Technology, Inc. (OTCQB:RBCN) ('Rubicon') and Janel Corporation (OTCQX:JANL) ('Janel Corp') today announced that they have entered into a definitive merger agreement, pursuant to which Rubicon will acquire Janel Group LLC ('Janel Group') with Janel Group becoming a wholly owned subsidiary of Rubicon and Janel Corp receiving shares of Rubicon common stock. Janel Group, based in Garden City, New York, and originally founded in 1974, is a wholly owned subsidiary of Janel Corp. Janel Group had revenues of approximately $181.3 million and operating income of approximately $8.7 million for the 12-month period ended June 30, 2025. The company is a non-asset based, full-service provider of cargo transportation logistics management services. Its management team will remain in place as part of Rubicon. The transaction allows Rubicon to acquire a profitable business and better access to capital. Janel Corp shareholders will benefit from its ownership of Rubicon. The transaction, which was approved by the Rubicon board, including its independent directors, is subject to approval by the majority of Rubicon's disinterested stockholders. Additional Transaction Details Janel Corp will sell all of the issued and outstanding equity of Janel Group to Rubicon in exchange for 7,000,000 shares of Rubicon common stock, at a value of $4.75 per share. Rubicon will assume approximately $23 million of Janel Group indebtedness and net working capital liabilities and gain access to a total of $35 million in borrowing capacity as part of a revolving credit facility under Janel Corp's existing credit line. Prior to this transaction, Janel Corp owned 1,108,000 shares of Rubicon common stock, representing approximately 46.6 percent of all outstanding Rubicon common stock. Following this transaction, Janel Corp will own approximately 86.5 percent of Rubicon's common stock. Janel Corp and Rubicon will maintain the existing governance, nomination and voting agreement requiring review and approval by Rubicon's independent directors of related party transactions between Rubicon and Janel Corp, and any of its affiliates, until such time that Janel Corp and/or its affiliates acquire more than 90 percent of Rubicon's outstanding stock. In order to protect Rubicon's ability to utilize its net operating loss carryforwards, Rubicon had previously adopted a stockholder rights plan to limit the ability of any group or person to acquire 5% or more of Rubicon's common stock (subject to certain exceptions, including acquisitions approved by its board) by any group or person. The board of Rubicon has determined that the transaction will not impair the Rubicon's net loss carryforwards. Rubicon shares will continue to be traded on the OTC market. Janel Corp Tender Offer of Rubicon Common Stock Contingent upon a successful Rubicon stockholder vote and consummation of the transaction, Janel Corp expects to make a tender offer for an additional 400,000 shares of Rubicon stock at $4.75 per share in cash upon which Janel Corp would own approximately 90.7% of Rubicon's common stock outstanding. The tender offer described in this announcement has not yet commenced. This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell Rubicon's common stock. If Rubicon stockholders approve the transaction, Janel will distribute an Offer to Purchase relating to the tender offer following the consummation of the transaction, and any Rubicon stockholder who would like to participate in the tender offer should review the terms of the tender offer set forth in such Offer to Purchase when it becomes available. About Rubicon Technology, Inc. Rubicon Technology, Inc., through its wholly owned subsidiary Rubicon Technology Worldwide LLC, is an advanced materials provider specializing in monocrystalline sapphire products for optical systems and specialty electronic devices. Rubicon has expertise in sapphire products with superior quality and precision. About Janel Group LLC Janel Group LLC is a non-asset based, full-service provider of cargo transportation logistics management services, including freight forwarding via air, ocean and land-based carriers; customs brokerage services; warehousing and distribution services; trucking and other value-added logistics services. The company operates in the United States with over 25 locations and serves customers globally through its networks of international partners. Forward-looking Statements This press release contains certain statements that are, or may deemed to be, 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and that reflect management's current expectations with respect to the closing of Rubicon's acquisition of Janel Group, the benefits of the transaction for Rubicon, the continuation of agreements between Rubicon and Janel Corp following the closing of the acquisition, the tax impact of the transaction and Janel Corp's plans to commence a tender offer following approval of the transaction by Rubicon stockholders. These forward – looking statements may generally be identified using the words 'may,' 'will,' 'intends,' 'plans,' 'projects,' 'believes,' 'should,' 'expects,' 'predicts,' 'anticipates,' 'estimates,' and similar expressions or the negative of these terms or other comparable terminology. These statements are necessarily estimates reflecting management's best judgment based upon current information and involve several risks, uncertainties and assumptions. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and readers are advised that various factors could affect our financial performance, including, but not limited to, those set forth in Janel Corp's Securities and Exchange Commission ('SEC') filings, which could cause Janel Corp's actual results for future periods to differ materially from those anticipated or projected in its SEC filings. While it is impossible to identify all such factors, such factors include, but are not limited to, we may fail to realize the expected benefits or strategic objectives of this transaction, or that we spend resources exploring acquisitions that are not consummated; risks associated with litigation and indemnification claims and other unforeseen claims and liabilities that may arise from an acquisition; changes in tax rates, laws or regulations and our acquired companies and subsidiaries' ability to utilize anticipated tax benefits; the impact of rising interest rates on our investments, business and operations; conflicts of interest with the minority shareholders of our business; we may not have sufficient working capital to continue operations; we may lose customers who are not obligated to long-term contracts to transact with us; instability in the financial markets; changes or developments in U.S. laws or policies (including the imposition of tariffs and any resulting counter-tariffs as well as reductions in federal government funding); competition from companies with greater financial resources and from companies that operate in areas in which we plan to expand; impacts from climate change, including the increased focus by third-parties on sustainability issues and our ability to comply therewith; competition from parties who sell their businesses to us and from professionals who cease working for us; the level of our insurance coverage, including related to product and other liability risks; each of our compliance with applicable privacy, security and data laws; risks related to the diverse platforms and geographies which host each of our management information and financial reporting systems; the Logistic business' dependence on the availability of cargo space from third parties; the impact of claims arising from transportation of freight by the carriers with which the Logistic business contracts, including an increase in premium costs; higher carrier prices may result in decreased adjusted gross profit; risks related to the classification of owner-operators in the transportation industry; recessions and other economic developments that reduce freight volumes; other events affecting the volume of international trade and international operations; risks arising from each of our ability to comply with governmental permit and licensing requirements or statutory and regulatory requirements; the impact of seasonal trends and other factors beyond our control on the Logistics business; and risks related to ownership of each of our common stock, including share price volatility, the lack of a guaranteed continued public trading market for each of our common stock, and costs related to maintaining Janel Corp's status as a public company; terrorist attacks and other acts of violence or war and, in the case of Janel Corp, such other factors that may be identified from time to time in its SEC filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those projected. You should not place undue reliance on any of our forward-looking statements which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
