The Shortlist targets companies it tags as pump-and-dumps, industry bubbles, constrained-float cases, potential fraud or overleveraged. Its Oct. 23 realistic-value estimates imply large downside, including 79% for ReAlloy, 53% for Critical Metals, 60% for Infleqtion and 62% for Quantinuum. x.com 

After quantum computing stocks ripped, an updated relative valuation comparison covers Rigetti Computing alongside IonQ, D-Wave Quantum and Quantum Computing Inc. x.com 

Rigetti gains a federal tailwind: the Commerce Department will award it up to $100M under the CHIPS Act over three years, and new executive orders target practical quantum computers by 2028 and post-quantum cryptography upgrades by 2031. With $569M in cash, the grant eases dilution and liquidity risk. Management says its superconducting gates are nearly 1,000x faster than rival technologies, which with its chiplet architecture positions it to reach quantum advantage within three years. x.com 

Rigetti Computing and Infleqtion are too speculative to own because neither has a moat yet. Bernstein flags both as high risk-reward quantum plays, but its own note says it is far too early to declare a winner and that different modalities have distinct strengths, so a new architecture could make their hardware obsolete. Quantum is also highly capital-intensive: Rigetti's roughly $590 million in cash is a runway being burned, not operating profit. For a quality investor, both are a pass for now. … Show more

Rigetti Computing's valuation is absurd: it still carries a market cap above $5bn on just $5m of revenue and a $28m operating loss. x.com 

Quantum computing stocks D-Wave Quantum, Rigetti and Infleqtion now trade on fiscal support rather than technology: in May 2026 the US government put about $2 billion into the sector and took equity stakes as a condition, sending the three up roughly 30-33% in a day. Positions should be sized like lottery tickets. x.com 

IonQ, D-Wave and Rigetti look like traps after spiking on US government equity stakes. The $2B attached to nine quantum companies is roughly $100M each, a rounding error that doesn't change whether the businesses work. D-Wave's last quarter brought in $2.86M of revenue and Rigetti $4.4M, about 600x revenue. Much of the pop was a short squeeze, not revaluation, and the group later fell 7-9% on no news. Unlike Intel, which the government bought cheap, these are bought on a story. x.com 

Rigetti Computing is far less capitalized and technologically advanced than superconducting rivals IBM and Google, which spend more on R&D than Rigetti's entire market cap. Its chiplet design looks more like useful IP for an acquirer than a sign it will outperform them. Bulls citing 99.9% fidelity overlook that this level is useless for quantum computing, and the bull case rests on blind faith rather than capital or buildout. x.com  x.com 

The US government becoming a quantum investor makes some exposure to quantum computing stocks sensible, including IBM, GlobalFoundries, D-Wave, Rigetti and Infleqtion. x.com  x.com 

Quantum component and foundry suppliers such as GlobalFoundries have been the better way to own the quantum cycle than pure plays. Over the past year the four quantum pure plays averaged -10.6% while seven component and metrology names, including GlobalFoundries, averaged +156%, and the Defiance Quantum ETF rose 54.9%. Most of the component gains, though, came from AI demand. US Commerce Department equity funding lowers financing risk for the industry, not technology risk. x.com