Why is the price falling after hours today

The stock price of Rigetti Computing (RGTI) has experienced a decline of 4.7% on July 17, 2025. Today's drop can be attributed to several factors:

1. **Market Reaction to Announcement**: Rigetti Computing's stock price surged by 30.19% on July 16 after achieving a significant milestone in quantum computing. However, today's decline could be a correction after the previous day's significant rally. Such volatility is common after major announcements and can be due to investors booking profits or reassessing the company's long-term prospects.
2. **Error Rate Reduction**: While the company's 36-qubit quantum computer system achieved a 99.5% median two-qubit gate fidelity, which is a significant milestone, the market may have already priced in these expectations. Today's decline could be a result of investors reassessing the company's valuation in light of this achievement and its potential for commercialization.
3. **Financial Health Concerns**: Despite the positive developments in quantum computing, Rigetti Computing's stock price could be sensitive to concerns about its financial health. The company has been relying on equity financing, including a recent $350 million ATM offering, to fund its operations and growth. Investors may be concerned about the company's ability to generate sustainable revenue and profits in the future.

In conclusion, the decline in Rigetti Computing's stock price today can be attributed to a combination of factors including a market correction after a previous day's significant rally, reassessment of the company's valuation, and concerns about its financial health.