Down More Than 30% This Year, Has Rigetti Computing Stock Bottomed Out?
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By David Jagielski, CPA – Apr 13, 2026 at 3:15PM ESTKey PointsIn recent weeks, Rigetti's stock has been rallying.Its valuation, however, remains high given the uncertainty the business faces and its poor financials.Rigetti Computing (RGTI +3.06%) is a promising tech company with loads of potential in the quantum computing space. As demand for artificial intelligence grows, so too does the need to process a lot of data quickly. If Rigetti develops computers that can help meet those needs, it can easily be a business that grows significantly in value. Unfortunately, that's still a long-term vision which could be years away from being a reality. In the meantime, the company is burning through cash, incurring losses, and it doesn't generate much growth these days. And its poor financials raise concerns about its long-term viability, which are undoubtedly weighing on its stock performance. This year, shares of Rigetti have declined by more than 30%. Have they bottomed out, and could now be a good time to buy the stock? Image source: Getty Images. The stock has been rallying recently Rigetti investors may see hope in the tech stock rising of late, as a sign that perhaps it has bottomed out. On March 30, it closed at $12.90, and entering trading on Monday, it was up around $14.70 -- a gain of about 14% in a span of just two weeks. While it's still far above its 52-week low of $7.81, investors have grown increasingly bullish around Rigetti over the past year and may be willing to pay more of a premium for the stock these days. But while Rigetti's stock may be showing signs of improvement of late, that doesn't mean the business itself is on a stronger footing. In 2025, the company incurred an operating loss of $84.7 million, which was worse than the $68.5 million loss it posted a year earlier. Its operating cash burn has also intensified, rising from $50.6 million in 2024 to $58.5 million this past year. ExpandNASDAQ: RGTIRigetti ComputingToday's Change(3.06%) $0.45Current Price$15.13Key Data PointsMarket Cap$4.9BDay's Range$14.17 - $15.2452wk Range$7.81 - $58.15Volume17MAvg Vol28MGross Margin-8613.15% Rigetti's stock is cheaper, but its valuation isn't low Even though Rigetti's stock has been falling sharply this year, its market cap remains fairly high for a business at such an early growth stage, which possesses many question marks. At just under $5 billion, its price-to-sales multiple is well over 600. If it truly establishes itself as a leader in the quantum computing space and becomes the real deal, with strong financial results to back it up, then Rigetti's stock could certainly stand to generate fantastic returns for investors. However, there are no assurances as to how things will play out. And with plenty of competition out there, it won't be an easy path forward for Rigetti. This could make for a compelling stock to watch, but it's likely too risky for the vast majority of investors to own. Read NextApr 13, 2026 •By Anthony Di PizioPrediction: This Will Be Rigetti Computing's Stock Price in 1 YearApr 12, 2026 •By Keithen DruryIs Rigetti Computing's New 2-Qubit Gate Fidelity Record a Reason to Buy the Stock?Apr 4, 2026 •By Keithen DruryIs Rigetti Computing the Best Quantum Computing Stock to Buy Right Now?Mar 26, 2026 •By Anthony Di PizioIs This Popular Quantum Computing Stock Heading for an 80% Crash?Mar 24, 2026 •By David Jagielski, CPAShould You Buy Rigetti Computing Stock While It's Below $20?Mar 22, 2026 •By Bram Berkowitz2 Quantum Computing Stocks With as Much as 162% and 197% Upside, According to Certain Wall Street AnalystsAbout the AuthorDavid Jagielski, CPA, has been a contributing Motley Fool stock market analyst covering healthcare, consumer staples, consumer discretionary, and technology stocks since 2017. David has more than 10 years of experience in finance roles across businesses of different sizes and sectors. He holds a Certified Public Accountant designation in Canada.TMFdjagielskiStocks MentionedRigetti ComputingNASDAQ: RGTI$15.13(+3.06%)+$0.45*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.