Rigetti Computing: Listen To The CEO Warning
- Rigetti Computing, Inc. is overvalued with minimal revenues currently while facing major competition from tech giants like Google.
- Nvidia's Quantum Day event and Google's quantum chip news caused temporary stock surges, but don't change Rigetti's long-term business outlook.
- The CEO warned investors to tamp down expectations after the wild swings in the stock price.
- RGTI stock trades at nearly 200x '25 sales targets, with limited prospects for near-term material revenues.
As with all the quantum computing stocks, Rigetti Computing, Inc. (NASDAQ:RGTI) is very richly valued. The stocks got a rebound bounce on the announcement of a first-ever quantum event from a large chip company, though the event is highly unlikely to materially change the business path. My investment thesis is ultra-Bearish on the stretched valuation and minuscule results of the stock.
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