Rigetti Computing is at the forefront of the quantum computing industry, but the company has a speculative stock valuation.

Quantum computing stocks took a dive Wednesday after investors' perceptions about the outlook for the sector were dramatically corrected. Valuations in the nascent space had been

Rigetti Computing's technology roadmap aims to enhance its market position with significant milestones in 2025, including a 36-qubit and 100-qubit system.

The gains came after Nvidia CEO Jensen Huang triggered a selloff in quantum computing stocks earlier this week with his remarks about the technology’s development.

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.

Rigetti Computing (NASDAQ: RGTI) stock posted explosive gains across 2024. The quantum computing company's share price closed out the year's trading up 1,449.4%, according to data from S&P Global Market Intelligence.

CEO Jensen Huang lit the entire quantum computing sector on fire last night after saying the technology won’t be “very useful” for at least 15 years and maybe as many as 30 years. He may as well have poured gasoline on the industry and thrown in a lit match.

Investors and traders will take their cue from the round numbers. The stock is likely to break back below $10 followed by a decline to $7.50 and then possibly $5. Each of these price levels will see investors and traders step in to “Buy the Dip” on the way down.

Rigetti Computing’s shares have surged by over 1,860% in the past six months, thanks to a marketwide uptick in all things quantum. Even so, the company’s quarterly revenue remains modest at $2.4 million in the most recent quarter,

Rigetti Computing (RGTI) is an integrated full-stack quantum computing company that focuses on designing and developing quantum chips. It was the first company to develop a multi-chip quantum processor.