Rigetti Stock’s Quantum Roller Coaster: 3,000% Surge, Government Backing & Big Risks
Rigetti Computing shares surged over 3,000% in the past year, peaking near $50 before retreating to the high-$30s after volatility tied to government funding talks. The company booked its first commercial quantum computer sales in September, worth $5.7 million. Q2 revenue fell 42% to $1.8 million, but Rigetti holds $572 million in cash. Analyst price targets vary widely, with recent downgrades citing valuation concerns.