Quantum Stocks Slide 5%-7% as Monday's 12% Rally Unravels
Updated
Updated · 24/7 Wall St. · Jun 16
Quantum Stocks Slide 5%-7% as Monday's 12% Rally Unravels
2 articles · Updated · 24/7 Wall St. · Jun 16
Summary
Rigetti fell 7% to $21.17 Tuesday, while IonQ, D-Wave and Quantum Computing Inc. dropped 5% to 6%, erasing most of the prior session’s surge.
No company-specific news, guidance cuts or downgrades accompanied the selloff, pointing to profit-taking after Monday’s jump in these high-beta, speculative names.
The broader backdrop was mixed: the Nasdaq 100 was down 1.4%, but the VIX sat at 16.2 in a normal range, suggesting a sector unwind rather than a broad risk-off shock.
Valuations remain stretched versus revenue — IonQ is worth about $21.46 billion on $64.67 million in quarterly revenue, while Rigetti is valued near $7.67 billion on $4.4 million.
Near-term sentiment now hinges on whether the group holds Monday’s pre-rally levels, with future support likely tied to commercial orders and IonQ’s pending SkyWater acquisition.