Overview
- Rigetti shares have dropped from nearly $60 in October to below $25 by Nov. 14, reflecting a sharp reversal after a strong run-up.
- Q3 revenue came in at $1.9 million, missing sell-side estimates, while operating loss widened to $20.5 million from $17.3 million a year earlier.
- Management has highlighted commercial traction with two Novera system purchase orders in late September and a roadmap targeting systems with more than 1,000 qubits within roughly two years.
- Market factors such as profit-taking, broader risk aversion, weak sector earnings and potential tax‑loss selling could keep pressure on the stock near term.
- Peers continue to tout technical progress, including IonQ’s reported 99.99% two‑qubit gate fidelity and long‑term scaling goals, underscoring the gap between advances and current revenues across the sector.