Is Rigetti Computing’s Spectacular Run Nearing Its End?

The quantum computing specialist Rigetti has delivered a performance that would stun even the most seasoned technology investors—its shares have surged by more than 3,000% over the past twelve months. This extraordinary rally, however, masks a critical vulnerability. With quarterly revenue standing at a mere $1.8 million, can such a minimal sales figure possibly validate a market valuation that appears to defy all conventional metrics? The company’s Q3 earnings report, scheduled for release on November 10, may deliver a sobering dose of reality to the market.

A glance at Rigetti’s financial metrics reveals a startling picture. The company currently trades at a price-to-sales multiple of 1,100—a ratio considered exceptionally high Read more...