The same stocks rallied earlier this week after Microsoft unveiled an initiative meant to familiarize business leaders with quantum systems.

On Wall Street, Rigetti holds a Strong Buy consensus with six Buy recommendations. However, the stock’s recent surge has surpassed analysts’ projections, with a 12-month average price target of $6.10 indicating a potential 46% downside from current levels. Analysts may soon reassess their ratings and price targets for Rigetti.

"Particularly because of the hype that is going on in the quantum computing space and some erroneous statements are being made, including by people in the industry, we have to tamp down some expectations," Rigetti Computing CEO Subodh Kulkarni told me on Yahoo Finance's Opening Bid podcast (video above; listen in below).

Rigetti stock is up 1,756% in the last year — but 74% overvalued. Investors who did not buy Nvidia stock before GenAI wave, fear missing out on quantum computing.

Shares of Rigetti computing have lost more than 70% of their value since hitting their $20 closing high less than two weeks ago. The volatile plunge in share price came on the heels of Jensen Huang - NVIDIA’s CEO – on the reasonable timeline for quantum computing.

The company plans to leverage this technology to create a 36-qubit system using four connected chips by mid-2025, followed by a 100-plus qubit system later in the year. Financial position strengthens amid soaring valuation Rigetti's financial position was significantly boosted by a capital raise last November.

We recently compiled a list of the 5 Quantum Computing Stocks Challenging Jensen Huang’s Stance. In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against the other quantum computing stocks.

This is what's happening on Wednesday, as quantum computing investors cheer some kind words from Microsoft's strategic missions and technologies chief, Mitra Azizirad, who last night urged quantum investors to get ready, because "we are right on the cusp of seeing quantum computers solve meaningful problems and capture new business value."

Nvidia slumped 2%. Palantir dropped 4%, while quantum computing winner Rigetti Computing plunged about 33%. Last year's Nasdaq winner AppLovin also sold off about 1.5%. The sell-o

Quantum computing stocks took a wild turn in early 2025, with Rigetti Computing (RGTI) becoming the center of speculative trading, much like GameStop (GME) a few years ago. The stock skyrocketed by nearly 1,