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Rigetti's Stock Soars Despite Revenue Plunge and Downgrade

11/5/2025

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Summary

Story summary

Rigetti Computing's stock has doubled since its Q2 earnings report, driven by sentiment rather than fundamentals, even as revenue fell 41% to $1.8 million.
B. Riley downgraded Rigetti from Buy to Neutral, triggering about a 10% selloff amid concerns over possible delays in U.S. government funding.
Rigetti will report Q3 earnings on November 10 to clarify its trajectory and contract progress, with analysts maintaining a cautious Moderate Buy consensus.

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Story summary

Rigetti Computing's stock has doubled since its Q2 earnings report, driven by sentiment rather than fundamentals, even as revenue fell 41% to $1.8 million.
B. Riley downgraded Rigetti from Buy to Neutral, triggering about a 10% selloff amid concerns over possible delays in U.S. government funding.
Rigetti will report Q3 earnings on November 10 to clarify its trajectory and contract progress, with analysts maintaining a cautious Moderate Buy consensus.