Should You Forget Rigetti Computing and Buy This Millionaire-Maker Stock Instead?
Nvidia looks like a more reliable investment than this quantum computing darling.
Rigetti Computing (NASDAQ: RGTI) took investors on a wild ride since its public debut three years ago. The quantum computing company went public by merging with a special purpose acquisition company (SPAC), and its stock opened at $9.75.
But by May 3, 2023, its stock sunk to an all-time low of $0.38. Like many other SPAC-backed start-ups, Rigetti overpromised and underdelivered. It only generated $13 million in revenue in 2022, compared to its original forecast of $18 million, and its founder Chad Rigetti unexpectedly stepped down as its president, CEO, and director that December.
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