Rigetti Computing (RGTI) shares plummeted 14.64% in intraday trading on Thursday, as the quantum computing sector experienced a significant sell-off. The steep decline in Rigetti's stock price reflects broader weakness in the quantum technology market, with several peer companies also facing substantial losses.

The quantum computing industry saw widespread declines, with D-Wave Quantum dropping 9% and IONQ falling over 6%. This sector-wide downturn suggests that investors may be reassessing the near-term prospects of quantum technology companies or responding to broader market pressures affecting high-growth tech stocks.

The sell-off in quantum computing stocks occurred alongside declines in other tech-related sectors. Lithium stocks, crucial for electric vehicle batteries, also experienced significant drops, with Lithium Americas falling over 18%. Additionally, rare earth stocks faced pressure, with USA Rare Earth down 10%. These parallel movements across various tech-related industries indicate a possible shift in investor sentiment towards speculative and growth-oriented technology sectors.