What Is Next For Rigetti Stock?

Shares of Rigetti Computing (RGTI) have fallen 68% over the past twelve months, trailing the 17.0% return of the S&P 500. Despite this steep decline, the company retains a valuation of about $4.7 billion while losing about $0.2 billion over its last twelve months. Investors paying this premium appear to be betting on sales that have not arrived yet. Current market pricing appears to assume a sales volume many times larger than a handful of orders of this size. At the S&P 500's 3.1 times sales, a