Rigetti Computing's stock plummeted 8.40% during intraday trading on Friday, extending recent declines.

The drop represents continued profit-taking pressure after 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 had driven the stock up over 50% cumulatively in late May.

Following the rapid surge, selling pressure from profit-taking has persisted, with the stock experiencing declines in recent sessions as investors digest prior gains. Medium-term policy tailwinds from the quantum computing sector are competing against short-term profit-taking dynamics.