NEW YORK, Dec. 28, 2025, 11:54 a.m. ET — Market closed (Weekend)
Rigetti Computing, Inc. (Nasdaq: RGTI) heads into the final trading week of 2025 with investors digesting a sharp Friday reversal in one of the market’s most momentum-driven corners: “pure-play” quantum computing stocks. In the last regular session (Friday, Dec. 26), Rigetti shares finished around $22.38, down roughly 8.6%–8.7% on the day after swinging between about $22.33 and $24.51. [1]
The move matters because it underscores what traders have learned repeatedly in 2025: RGTI can post rapid gains on optimism and positioning, but it can also retrace quickly when liquidity thins and risk appetite shifts. That dynamic has been especially pronounced in late December, when holiday conditions can amplify intraday swings.
What drove the late-week reversal in RGTI?
The drop followed a burst of quantum-sector enthusiasm earlier in the week. Trefis noted that RGTI surged sharply on Dec. 22 amid a broader rally in quantum-computing names, with no clear, company-specific headline tied to the move—an important detail for investors trying to separate “theme momentum” from fundamentals. [2]
By Friday, the tone changed. Benzinga described Rigetti’s pullback as a reversal after an earlier surge tied to retail momentum and broader optimism in high-beta quantum stocks during the holiday period. [3]
MarketBeat, which also covered Friday’s selloff, reported the stock traded down about 8.7% with volume around 28 million shares, notably lighter than its recent average—another ingredient that can make price action look more dramatic than it might in a normal-liquidity week. [4]
Rigetti headlines from the last 24–48 hours
Here are the main RGTI-specific items circulating over the past two days, spanning market news, institutional activity, and investor commentary:
- Rigetti stock pullback explanation (Benzinga): Coverage focused on the Friday reversal following a retail-driven run-up earlier in the week. [5]
- Friday selloff recap (MarketBeat): Reported the ~8.7% decline, intraday levels, and referenced the company’s most recent quarterly results for context. [6]
- Institutional ownership update (MarketBeat): A separate MarketBeat item highlighted a reported increase in shares held by Osaic Holdings Inc. based on filings. [7]
- “Big money managers” theme (The Motley Fool): A Dec. 26 column argued that asset managers and hedge funds have been accumulating shares during 2025, while emphasizing the company’s losses and the stock’s risk profile. [8]
- Risk/reward debate (The Motley Fool): Additional late-week opinion pieces continued the “is it too late?” discussion around quantum stocks after large multi-year moves. [9]
- Fresh 2026-style predictions (Nasdaq syndication of Motley Fool): One piece argued Rigetti stock could fall meaningfully in 2026, while another suggested it could still have significant upside—highlighting how polarized sentiment remains. [10]
Analyst outlook: big price-target dispersion, mixed stances
December has also brought a wave of Wall Street coverage initiations and refreshed views on quantum computing “pure plays,” including Rigetti.
- Wedbush initiated coverage on Rigetti with an Outperform rating and a $35 price target, pointing to Rigetti’s positioning in superconducting qubits and the long-run opportunity in quantum hardware. [11]
- Jefferies initiated Rigetti with a Hold recommendation in a Dec. 16 note, as reported by Nasdaq (via Fintel syndication). [12]
- Mizuho’s Vijay Rakesh initiated coverage with an Outperform rating and a $50 price target in a broader quantum call, arguing the theme could represent a major future compute shift—but warning that near-term revenues can remain uneven. [13]
- B. Riley’s Craig Ellis previously downgraded Rigetti to Neutral (while raising his price target), citing short-term risks and a desire for more clarity around progress and partnerships—an example of how bullish long-term narratives can still coexist with tactical caution. [14]
For investors trying to reconcile these views, one key takeaway is how wide the range of forecasts remains. The Nasdaq/Fintel write-up on Jefferies’ initiation reported an average one-year price target near $37.91 (as of Dec. 6), with estimates spanning roughly $20.20 to $53.55—a spread that signals both opportunity and unusually high uncertainty. [15]
Fundamentals: why the story keeps coming back to revenue timing and execution
Rigetti remains a high-volatility, “story-driven” equity because the technology promise is large, while today’s financial base is still small.
In its latest reported quarter (Q3 2025), Investor’s Business Daily reported Rigetti posted revenue of about $1.95 million (down year-over-year) and reiterated technology targets, including work toward a higher-qubit, chiplet-based system—milestones investors often treat as credibility checks for roadmap execution. [16]
Rigetti’s own November earnings release also emphasized business and roadmap updates and referenced purchase orders tied to its quantum systems, reinforcing the company’s message that commercialization is progressing—but gradually. [17]
This gap between long-term potential and near-term commercialization is exactly why quantum stocks can trade like “theme proxies.” Reuters has described the sector’s sharp volatility and the difficulty of valuing unprofitable quantum companies whose market caps can swing far faster than revenues, even as the technology remains early-stage. [18]
Market sentiment signals: short interest and options pricing still matter for RGTI
Because Rigetti is frequently traded as a momentum name, positioning indicators can be as important as fundamentals over short windows:
- Short interest: MarketBeat reported that as of Dec. 15, 2025, Rigetti had short interest around 41.25 million shares, roughly 12.5% of the float—a setup that can add fuel to both rallies and drawdowns depending on the tape. [19]
- Options-implied volatility: MarketChameleon showed elevated implied volatility readings for RGTI, reflecting the market’s expectation of larger-than-usual moves. [20]
- Options sentiment snapshot: The Nasdaq/Fintel syndication noted a put/call ratio figure around 1.09 in its discussion of market positioning data—one more sign investors remain split. [21]
What investors should know before the next session
With U.S. markets closed for the weekend, the next key checkpoints arrive in Monday premarket and the Monday (Dec. 29) regular session, especially given year-end liquidity.
- Watch for fresh company-specific catalysts
Rigetti’s official press-release cadence has often been tied to earnings and major program updates. GlobeNewswire’s Rigetti feed shows the most recent major release dated Nov. 10, 2025, suggesting there hasn’t been a new, company-issued catalyst in the immediate holiday window—so Monday’s action may lean more heavily on positioning and sector sentiment. [22] - Expect “theme” trading to remain influential
Quantum has been one of 2025’s most headline-sensitive tech themes. If the sector sees broad risk-on flows, RGTI can participate quickly; if markets rotate away from high-beta names, RGTI can feel that just as fast. Reuters’ coverage of quantum stocks’ boom-and-bust swings is a useful framing for how quickly sentiment can turn. [23] - Keep an eye on calendar-driven liquidity and macro headlines
This is the final week of 2025 and a holiday-shortened week because markets are closed for New Year’s Day (Thursday, Jan. 1, 2026). Investopedia reports stocks are expected to trade a full day on New Year’s Eve (Wednesday, Dec. 31), while bond markets close early that day—details that can affect cross-asset liquidity and risk-taking. [24]
Investopedia also highlighted key scheduled data this week (including pending home sales, Case-Shiller, jobless claims, and Fed minutes), any of which can affect overall risk appetite—often the main driver for high-beta names when there’s no company headline. [25] - Know the next “hard date” catalyst
Multiple market calendars estimate Rigetti’s next earnings report around March 4, 2026 (date not always confirmed far in advance), which means the very near-term trade is likely to remain dominated by sentiment, analyst notes, and sector headlines rather than an imminent earnings event. [26]
Bottom line
Rigetti (RGTI) ends the weekend with a familiar setup for late-2025 quantum names: a sharp pullback after a fast run, expanding analyst coverage with widely dispersed targets, and a market structure where liquidity and positioning can move the stock as much as fundamentals on any given day. With the market reopening Monday, investors will be watching whether Friday’s drop becomes a deeper unwind—or a reset that attracts dip-buyers into a still-hot quantum theme. [27]
References
1. www.marketbeat.com, 2. www.trefis.com, 3. www.benzinga.com, 4. www.marketbeat.com, 5. www.benzinga.com, 6. www.marketbeat.com, 7. www.marketbeat.com, 8. www.fool.com, 9. www.nasdaq.com, 10. www.nasdaq.com, 11. www.tipranks.com, 12. www.nasdaq.com, 13. www.marketwatch.com, 14. www.barrons.com, 15. www.nasdaq.com, 16. www.investors.com, 17. investors.rigetti.com, 18. www.reuters.com, 19. www.marketbeat.com, 20. marketchameleon.com, 21. www.nasdaq.com, 22. www.globenewswire.com, 23. www.reuters.com, 24. www.investopedia.com, 25. www.investopedia.com, 26. www.zacks.com, 27. www.marketbeat.com
