Rigetti Computing (NASDAQ: RGTI), a developer of quantum computing systems, set a record high of $56.34 per share last October. At the time, investors were willing to pay a premium for Rigetti’s early mover’s advantage in the nascent quantum computing market.
But today, Rigetti’s stock trades at about $16. It pulled back as it grappled with tough competition, steep losses, and macro headwinds that deflated its valuation. Will it bounce back over the next 12 months, or will it sink even lower?
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