Down More Than 50% From Its High, Is Rigetti Computing Stock a Good Buy Right Now?

Core Viewpoint - The recent decline in Rigetti Computing's stock price raises questions about whether it presents a buying opportunity or indicates a larger downturn for the company [1][2]. Company Performance - Rigetti's stock has seen a significant drop, finishing last week at less than $26, which is a 55% decline from its 52-week high of $58.15 [2]. - The company reported total sales of $7.5 million over the trailing 12 months, while operating expenses were just under $83 million during the same period, indicating a substantial loss [3]. Market Sentiment - Interest in Rigetti's stock has been waning, as evidenced by a decrease in trading volumes from over 100 million shares earlier in the year to often less than half of that level [6][8]. - Despite a 70% rise in stock price earlier this year, the speculative nature of Rigetti's business model and the associated risks have led to a cooling of investor excitement [5][6]. Industry Outlook - Quantum computing remains a promising but uncertain field, with questions about when it will become mainstream and whether Rigetti will be a leading player when that occurs [4]. - The market capitalization of Rigetti reached over $18 billion due to initial investor enthusiasm, but the recent pullback and declining trading volumes suggest a shift in market sentiment [7].