Rigetti’s Quantum Leap: Stock Skyrockets 5,000% Amid Deals & Hype – Bubble or Breakthrough?
Rigetti Computing shares surged 25% in a single day on Oct. 13, hitting a record high near $56 and pushing its market cap to almost $17 billion. The stock is up over 5,000% in the past year, despite annual revenue of just $8–10 million and ongoing losses. Analysts rate the stock a “Buy,” but average price targets remain far below current levels. Technical indicators show overbought conditions, with a recent 13% pullback after insider selling.