Rackspace Tech

Rackspace Technology opened sharply lower in regular trading, hitting an intraday low of $6.140 at ET 09:31, down 5.4% from the prior close of $6.490, as the stock pulled back after recent gains tied to its 30 MW AI compute deployment deal with AMD and a 15% workforce reduction. Despite the dip, the stock remains above its 20-day MA of $6.084, though it is 28.43% below its 52-week high of $8.600. Year-to-date, the stock has surged 531.74%. Q1 2026 results showed revenue of $678.1 million (+1.91% YoY) and net profit of $8.3 million, a turnaround from a net loss a year earlier, though operating income remained negative at -$7.2 million. After-hours trading saw the price recover to $6.440, suggesting some buying interest.