This Quantum Computing Stock Is Up 3,000% Over the Last Year, and the CEO Just Cashed Out. Are Retail Investors Fueling a Bubble?

Group 1 - The AI theme has led to significant price appreciation across various sectors, including semiconductor stocks, cloud computing, nuclear energy, and cryptocurrency, with a new focus emerging on quantum computing [1] - Rigetti Computing has seen its stock price increase by approximately 3,000% over the past year, indicating strong investor interest beyond traditional tech giants [2] - Rigetti Computing was founded in 2013 by Chad Rigetti and remained private for nearly a decade, raising funds from venture capital, particularly Andreessen Horowitz [3][4] Group 2 - Rigetti went public via a SPAC in March 2022, following a trend of increased SPAC offerings during 2020 and 2021 [4] - CEO Subodh Kulkarni, who has a background in research and leadership roles, sold $11 million worth of Rigetti stock earlier this year, raising questions about the company's future prospects [6][7] - Despite the stock's rise, Rigetti's trading is largely driven by narratives rather than solid fundamentals or progress [7]