Quantum computing companies have surged recently but Nvidia CEO Jensen Huang had a disappointing message for the sector.

Rigetti stock is up 1,756% in the last year — but 74% overvalued. Investors who did not buy Nvidia stock before GenAI wave, fear missing out on quantum computing.

Rigetti Computing’s shares have surged by over 1,860% in the past six months, thanks to a marketwide uptick in all things quantum. Even so, the company’s quarterly revenue remains modest at $2.4 million in the most recent quarter,

Rigetti offers full-stack quantum-classical computing. RGTI's advancements promise significant growth and reduced error rates. Find out why the stock is a hold.

Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $19.02, but opened at $18.54. Rigetti Computing shares last traded at $20.

The stock quickly rallied from $2 to $10, where shares had become overbought from a technical perspective. Buyers returned in full force after a fast and aggressive selloff to $7.50and have now doubled the stock to their current price of $15 in just three trading days.