Rigetti Computing's stock experienced a sharp decline of 7.14% during intraday trading on Monday, reflecting continued selling pressure following the company's recent financial results.

The selloff is attributed to investors locking in gains after a post-earnings rally, coupled with concerns over the company's expanding operating losses. Despite reporting first-quarter revenue that nearly tripled year-over-year to $4.4 million and beating analyst expectations, Rigetti's operating losses widened to $26 million from $22 million in the prior-year period, highlighting persistent cost pressures.

Uncertainty surrounding the timeline for the full deployment of its over-1,000-qubit system and near-term commercial viability continues to weigh on investor sentiment regarding the company's path to profitability.