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Rigetti Computing
RGTI-Q
RISKY
Dec 30, 2024
$17.000
Stock price when the opinion was issued
Technology
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SELL
Nvidia CEO, Jensen Huang, said that quantum computing has a long way to go, which crushed quantum computing stocks today. This sector got overheated. These stocks have even more downside ahead. They're losing tons of money and have zero or very little revenue. Frothy and excessive. RGTI was $1 just last October. It's not too late to sell.
Technology
RGTI is in the quantum computing space so it is getting a lot of attention currently. Revenues are fairly low with $11 mln expected next year compared to the market cap at $2.5 bln. The company is losing money currently. We would view it as high risk and speculative.and we would consider it one to watch only. The quantum computing space is the current 'hot' sector, but commercialization is years awy. RGTI has massive negative cash flow. It does have $80M cash. We would consider it very very risky at this point. If quantum is going to be 'the next big thing' there will be lots of time to buy this. We would like to see higher revenues and cash flow at least getting towards break even. Certainly the stock could still move higher on momentum and speculation, but we cannot justify purchase on any fundamentals.
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