SOUN, CRWV, QBTS, IONQ, RGTI: Why These High-Growth Tech Stocks Are Crashing Hard in 2025

Tech investors got burned again—SOUN, CRWV, QBTS, IONQ, and RGTI just nosedived. What’s behind the bloodbath?

Growth stocks giveth, and growth stocks taketh away. This week’s brutal selloff proves even the shiniest tech darlings aren’t immune to gravity.

Here’s the damage:

• SOUN: -XX% (Voice AI play now whispering ‘help’)
• CRWV: -XX% (Crypto infrastructure firm caught in the crossfire)
• QBTS: -XX% (Quantum computing hype meets reality)
• IONQ: -XX% (Another quantum contender bleeding out)
• RGTI: -XX% (5G hopeful now signaling distress)

The culprits? Pick your poison: Fed jitters, earnings misses, or good old-fashioned profit-taking after last quarter’s unsustainable rally. (Or maybe Wall Street finally remembered most pre-revenue tech firms are glorified PowerPoint presentations.)

Bottom line: When the market flips risk-off, speculative tech gets hit first—and hardest. Bulls argue this is a buying opportunity. Bears see dead cat bounces. Either way, pack extra antacids.

Meet Your ETF AI Analyst

• Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
• Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.

Investors Move Back to Earnings Strength

The selloff in these stocks picked up once Q3 earnings season began, with investors choosing companies that produce solid profit and cash FLOW rather than early-stage growth stories.

FactSet data showed that 82% of S&P 500 (SPX) companies beat earnings expectations, and 77% topped revenue estimates. With big companies posting solid numbers, investors questioned whether to keep putting money into firms with thin revenue and weak margins.

This shift also appeared in the iShares MSCI USA Value Factor ETF (VLUE), which gained about 6%, beating the S&P 500 as money flowed into companies with stronger profit and cash flow.

Quantum Stocks Face Policy Confusion

Quantum computing stocks, including D-Wave Quantum and Rigetti, fell even harder after hopes for new U.S. government support faded.

Earlier reports suggested that federal agencies might take stakes in key quantum firms, but those stories were later challenged and then disappeared. With no clear backing in place, traders pulled away from the group.

AI Stocks Now Face New Pressure

AI-linked names such as CoreWeave (CRWV) and SoundHound AI (SOUN) have also come under pressure. Both stocks had strong runs earlier this year as excitement grew around new AI models and rising demand for computing power.

CoreWeave, which jumped earlier on hopes of fast AI growth, has pulled back as investors wait for clearer signs of steady revenue. SoundHound AI has also dropped, as the market looks for proof that its early voice-AI progress can turn into consistent growth.

With these stocks under pressure, the next step is to compare their outlook. Let’s see how they perform using the TipRanks Stock Comparison Tool: