Rigetti Computing's stock plummeted 9.96% during intraday trading on Thursday, reflecting significant selling pressure on the quantum computing company.

The decline appears to be part of broader weakness in the quantum computing sector, with peer IonQ also falling 10% despite reporting first-quarter results that surpassed Wall Street expectations. This suggests investor concerns may be extending across the quantum computing industry.

Additionally, Wedbush analysts noted in a Thursday report that Rigetti's quantum computing as a service agreements and system sales are expected to be "lumpy" over the near-term, indicating potential volatility in the company's revenue streams ahead of its upcoming first-quarter financial results.