These 10 Firms Were Last Week’s Biggest Losers

1. Rigetti Computing Inc. (NASDAQ:RGTI)

Rigetti Computing (RGTI) fell by more than 50 percent in just a week, ending Friday’s trading at $8.93 versus the $18.84 registered week-on-week along with a broader sector downturn, as investors sold off positions following Nvidia Corp. chief Jensen Huang’s statement that the practical use of quantum computers are still 15 to 30 years away.

The timeline left little room for optimism among investors, who had hoped for quicker breakthroughs.

In addition, analysts recently cautioned investors about the risks of speculating in sectors such as nuclear and quantum computing, suggesting it could take a long time before these fields generate meaningful returns.

Other analysts also viewed Rigetti Computing (RGTI) as overvalued, trading at an EV-to-revenues ratio of 455 and a price-to-sales ratio of 242 currently.

While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RGTI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.