University of Kwazulu-Natal

Why Rigetti Computing Stock Is Plummeting Today

Bonisiwe Shabane
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why rigetti computing stock is plummeting today

Quantum computing exploded onto the investment scene in late 2024, igniting a frenzy that propelled pure-play stocks to astronomical heights. Rigetti Computing (RGTI) emerged as one of the biggest beneficiaries, with shares rocketing over 800% in a single month amid breakthrough announcements and surging optimism. Over the past three years, RGTI has delivered staggering gains of more than 3,200%, and at its peak, the stock was up over 8,200% from historic lows. Early investors have undeniably struck a rich motherlode, turning modest bets into life-changing wealth. Yet for those new to the quantum sector, the ride has been brutal. On Friday, RGTI tumbled almost 9% to close 61% below its October high of $58, erasing much of the year's explosive gains.

This pullback mirrors broader pain across quantum stocks like IonQ (IONQ) and D-Wave (QBTS), which have also plunged sharply after similar booms and busts. With the entire sector reeling, investors need to ask: Is the hype surrounding quantum computing finally over – and is RGTI still a buy? Quantum computing harnesses principles of quantum mechanics, using qubits that can exist in multiple states simultaneously (superposition) and become entangled. Unlike classical bits limited to 0 or 1, this enables quantum systems to explore vast solutions exponentially faster for certain problems. The potential is transformative: faster drug discovery by simulating molecules, optimized financial models, unbreakable encryption breakthroughs, and efficient logistics routing. Quantum could reshape industries from pharmaceuticals to materials science, unlocking solutions classical computers can't touch in reasonable time.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) shares fell 8.7% during trading on Friday . The company traded as low as $22.33 and last traded at $22.38. 28,050,431 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 69,919,023 shares. The stock had previously closed at $24.51. RGTI has been the subject of several analyst reports.

Williams Trading set a $40.00 price objective on shares of Rigetti Computing in a research note on Tuesday, November 11th. Wedbush initiated coverage on shares of Rigetti Computing in a research report on Wednesday, December 17th. They set an "outperform" rating and a $35.00 price target on the stock. B. Riley lowered their price objective on shares of Rigetti Computing from $42.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, November 12th. Benchmark reduced their target price on Rigetti Computing from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, November 11th.

Finally, Alliance Global Partners reissued a "buy" rating on shares of Rigetti Computing in a report on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rigetti Computing presently has an average rating of "Moderate Buy" and an average target price of $31.22. View Our Latest Stock Analysis on Rigetti Computing The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of -17.22 and a beta of 1.68. The firm's 50-day moving average is $30.14 and its 200 day moving average is $23.49.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. The company had revenue of $1.95 million for the quarter, compared to analyst estimates of $2.17 million. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The business's revenue for the quarter was down 18.1% on a year-over-year basis. Analysts predict that Rigetti Computing, Inc.

will post -0.34 EPS for the current year. Rigetti Computing Inc (NASDAQ:RGTI) is trading lower Friday afternoon, marking a reversal after a surge earlier in the week driven by retail momentum and sector-wide optimism. The recent volatility comes amid a classic Santa Rally, where retail investors earlier this week rotated into high-beta quantum stocks while institutional trading desks thin out for the holidays. What To Know: Earlier gains this week were fueled by a wave of social media sentiment focused on Rigetti’s 2026 roadmap, which promises higher-qubit systems and significantly lower error rates. This retail interest was compounded by a halo effect from peers like IonQ and D-Wave, which also saw spikes following strategic milestones and bullish analyst coverage. Notably, Wedbush recently initiated coverage on Rigetti with an Outperform rating and a $35 price target, citing the company’s advanced chiplets and vertically integrated production capabilities as key differentiators.

Market observers note that this week’s price action fits the pattern of a “Holiday Gap,” where lower trading volumes between Dec. 20 and New Year’s allow retail sentiment to move small-cap stocks more aggressively. While retail investors likely drove the stock higher earlier in the week on the belief that the “quantum age” could arrive by 2026, Friday’s downturn suggests a pause in the momentum as the holiday... This data feed is not available at this time. Daily stocks & crypto headlines, free to your inbox By continuing, I agree to the Market Data Terms of Service and Privacy Statement

Shares of Rigetti Computing (NASDAQ: RGTI) are plummeting on Tuesday. The quantum computing company's stock plunged 10% as of 12:46 p.m. ET and was down as much as 12.5% earlier in the day. The steep decline comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were up 0.8% and 1.6%, respectively. The quantum computing pioneer reported mixed Q1 2025 results on Monday after the market closed. Rigetti posted its first-quarter results on Monday, revealing earnings per share (EPS) of $0.13.

For the same period last year, the company lost $0.14 per share. The shift to operating in the black was overshadowed, however, by the massive drop in sales. The company reported a top-line revenue decline of 51% year over year (YOY). The $1.5 million came in far below the expected $2.6 million. The company's CEO, Subodh Kulkarni, emphasized during Rigetti's earnings call that "quantum computing continues to be in R&D mode" and that the "lumpy" revenue growth isn't a concern. Shares of Rigetti Computing Inc.

(NASDAQ:RGTI) slipped Monday after B. Riley Securities analyst Craig Ellis downgraded the stock from Buy to Neutral, even as he raised the price forecast from $35 to $42. The pullback follows a recent rally fueled by speculation that the U.S. Commerce Department was considering taking equity stakes in key quantum computing firms, including Rigetti, to bolster national security. Although the department later clarified it was not engaged in active talks, the report had already sparked optimism about potential government support for the sector. Also Read: Rigetti, Joby, QuantumScape — Meet The $0 Revenue Moonshots

The quantum computing space also drew renewed attention during NVIDIA Corporation’s (NASDAQ:NVDA) GTC event in Washington, D.C., which featured discussions on advancements in quantum technology.

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