Rigetti’s Quantum Boom: Stock Skyrockets as Hype Meets Reality
Rigetti shares closed at $54.91 on Oct. 13, up 127% year-to-date, after a 25% surge on JPMorgan’s $10B tech investment. The company’s market cap neared $14 billion despite 2024 revenue of $10.8 million and a $201 million net loss. Recent contracts include $5.7 million in Novera orders and a $5.8 million Air Force deal. All six analysts rate RGTI a Buy, but most price targets remain far below current levels.