RGTI Stock Confirms Bearish Reversal as Rigetti’s Bubble Bursts – $30 Next?
After a year of speculative euphoria, Rigetti Computing’s rally is unraveling as investors wake up to weak financials and inflated...
Quick overview
- Rigetti Computing's stock has dropped 8% after a significant rally, signaling a reversal in bullish momentum.
- The company's financials reveal a decline in revenue, with Q2 2025 figures showing a drop from $3 million to $1.8 million year-over-year.
- Market analysts warn that if Rigetti's stock falls below $34.50, it could descend further to $30 or lower.
- The fading enthusiasm for quantum computing highlights the volatility of speculative investments, as Rigetti's valuation reaches unsustainable levels.
After a year of speculative euphoria, Rigetti Computing’s rally is unraveling as investors wake up to weak financials and inflated expectations.
A Once-Unstoppable Rally Now in Freefall
Rigetti Computing’s (NASDAQ: RGTI) meteoric rise has finally hit turbulence. The stock, which had surged 286% since early September, has entered a sharp reversal phase, dropping 8% on Tuesday to close near $37. The decline followed a failed attempt to reclaim the 20-day moving average, which has now flipped from support to resistance—an unmistakable sign that bullish momentum has evaporated.
RGTI Chart Daily – The Crash Intensifies
Market analysts are warning that if Rigetti breaks below its key support at $34.50—the former September high—the next stop could be $30 or lower, marking a deeper descent after one of the market’s most overextended rallies.
Quantum Euphoria Fades as Speculation Implodes
Rigetti’s spectacular 12-month run—soaring more than 3,300% from under $1 in 2024—became emblematic of the quantum computing mania that gripped speculative corners of the market this year. Investors, eager to find the “next AI,” piled into quantum names on rumors of potential U.S. government stakes in firms like IonQ, D-Wave, and Rigetti.
But when White House officials denied those reports, the quantum bubble began to deflate almost overnight. The speculative rally, once fueled by social media hype and retail buying, has now given way to a brutal selloff. Like IonQ and D-Wave, Rigetti’s stock has been crushed under the weight of unrealistic expectations and dwindling liquidity.
Glitzy Partnerships, Grim Numbers
Despite the buzz surrounding its collaboration with NVIDIA and visibility at NVIDIA’s GTC event in Washington, D.C., none of these announcements have provided the lifeline investors hoped for. Rigetti continues to highlight its ambitions to merge AI supercomputing with quantum hardware, but its fundamentals tell a very different story.
The company’s Q2 2025 results exposed a business in decline:
- Revenue: $1.8 million, down from $3 million a year earlier
- First-half revenue: $3.2 million, versus $6.1 million in 2024
These figures confirm that Rigetti’s operations are shrinking, not expanding. Despite its near $17 billion market capitalization, annual revenue barely tops $8 million, making its valuation not just rich—but absurd.
Valuation Bubble Near Breaking Point
The company’s valuation now implies a price-to-sales ratio exceeding 2,000x, an unsustainable level even by speculative tech standards. Analysts have been quick to call this a “quantum bubble”, warning that any further disappointment could unleash another wave of institutional selling.
As traders move to de-risk, the market’s tolerance for story-driven stocks has waned. Rigetti’s fragile fundamentals have left it particularly vulnerable, especially in a macro environment where investors are increasingly favoring tangible results over promises of future revolutions.
From Dream to Disillusionment
Rigetti’s collapse underscores the volatile nature of hype cycles in emerging tech. For months, enthusiasm around quantum computing drowned out any discussion of profitability or scalability. Now, that euphoria is fading fast.
The mood among investors has shifted from “how high can it go?” to “how far can it fall?” Unless Rigetti can produce meaningful commercial contracts or revenue growth soon, its stock may continue sliding toward the mid-$30 range or worse, erasing much of this year’s gains.
What was once the poster child of the quantum revolution is fast becoming a cautionary tale—proof that even in cutting-edge industries, gravity always wins.
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