On May 29, Rigetti Computing fell 5.69% in regular trading, trading at $25.155/share, with trading volume of $331 million.

On the news front, the decline represents a continuation of profit-taking pressure following the stock's sharp rally earlier this month. The U.S. Department of Commerce announced approximately $2 billion in investment across nine quantum computing companies, with Rigetti expected to receive around $100 million in funding. This catalyst drove the stock up over 50% cumulatively on May 21-22.

Following the rapid surge, selling pressure from profit-taking has persisted. The stock pulled back 6.65% on May 26, and on May 28 experienced further declines of over 5% in both pre-market and after-hours sessions, despite a brief intraday rebound of nearly 6%. The current decline reflects ongoing digestion of prior gains, as medium-term policy tailwinds from the quantum computing sector compete against short-term profit-taking. Wall Street firm Wedbush previously maintained an Outperform rating with a $40 price target on the stock.

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