Rigetti (RGTI) Stock Skyrockets 5,000%, Hits Turbulence – Quantum Boom or Bubble?
Rigetti Computing shares surged nearly 5,000% in the past year, hitting an all-time high of $56 before dropping to $40 by October 22. The run-up followed a $5.8 million Air Force contract, commercial hardware orders, and sector optimism after JPMorgan’s $10 billion tech initiative. Despite a market cap near $18 billion, annual revenues remain around $8–10 million. Analysts warn the stock is overvalued and may be unsustainable.