Is Now the Time to Buy Rigetti Computing Stock?

Quantum computing stocks have tanked over the past month, and Rigetti Computing (NASDAQ: RGTI) is no exception. Since October, Rigetti has fallen from nearly $60 per share to less than $25 per share as I write this on Nov. 14. But quantum computing -- which takes advantage of the counterintuitive physics of matter at the tiniest scale to create computers that process information in a fundamentally different way than traditional computers do -- remains a fast-growing industry.

However, as is typical with stocks in early-stage industries, volatility for these companies is likely to remain high. However, this could prove beneficial for those who have been waiting for an opportune time to buy shares of Rigetti.

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Gravity reasserts itself

At first, it appeared that a combination of profit-taking in the wake of the year's sharp run-up and investors' broad concerns about risky assets in the context of the U.S. government shutdown explained the market's loss of enthusiasm for these speculative investments.

However, more recently, a clearer-cut reason for waning enthusiasm has emerged. Rigetti and many of its peers have released weak quarterly results. In Rigetti's case, concerns about near-term results overshadowed promising news, including updates about the company's path toward developing a more-than-1,000-qubit system within the next two years.

It missed analysts' top-line estimate. Last quarter, the company's revenue came in at $1.9 million, slightly below sell-side analysts' estimates. While its adjusted loss came in lower than expected, its operating loss increased from $17.3 million in Q3 2024 to $20.5 million in Q3 2025.

The Rigetti Computing story remains promising, but be patient

So the stock is down. But is it a buy now? Don't assume that the tale of this story stock has reached its final chapter. Unlike some of its competitors, Rigetti has made big advancements towards commercializing its technology. In late September, the company received purchase orders for two of its Novera quantum computing systems. Over the next few months, the company could announce further sales or technological breakthroughs.

Still, take your time before making your decision. Bearishness may persist, especially as investors digest the latest quarterly results from other pure plays in the space, such as Quantum Computing Inc. (NASDAQ: QUBT). Given the steepness of the sector's decline, it's possible that Rigetti stock will stay under pressure in the near term as investors who bought in at higher prices exit their positions to take advantage of tax-loss harvesting before the year's end.

Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.