Stock Track | Rigetti Computing Soars 19% as Quantum Computing Breakthrough Boosts Investor Enthusiasm

Stock Track01-25 00:32

Rigetti Computing (RGTI) stock surged by a remarkable 19.04% during Friday's intraday trading session, capping off a stellar week that saw the company's shares skyrocket by an impressive 50%.

The quantum computing firm's meteoric rise can be attributed to growing investor enthusiasm surrounding its groundbreaking advancements in the quantum computing realm. Analysts have taken note of Rigetti's progress in scaling its quantum systems to tackle complex problems that traditional computing cannot solve, leading B. Riley analyst Craig Ellis to raise his price target to $8.50 and maintain a "Buy" rating.

Moreover, Rigetti's successful fundraising rounds have provided much-needed cash flow respite and bolstered the company's growth outlook. Investors are betting that Rigetti's strategic development will position it as a leader in the rapidly expanding quantum computing industry, which has garnered significant market attention due to its vast potential applications across various sectors.

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Comments

  • Guavaxf30
    09:51
    Guavaxf30
    RGTI actually ended down 2% at the end of the day. That's a massive swing down of 21% from the top which is being reported in this article.  But as scary as this is, it is also showing how the meme players are fueling these irrational movements. Which is to say, RGTI has the potential to swing up above the previous record high of $21. Of course, also has the possibility of falling back down to $2 which was where it was in November 24. Where do you think it is headed next week? 
    • Guavaxf30: 
      But please don’t get me wrong. I do not think RGTI is worth that much. It is just today’s market players don’t care. It is a pump and dump market. But at this stage, it is a pump and pump, with the dump maybe a bit ways off.
    • Guavaxf30: 
      I agree. At $2, it is a no brainer to buy.
      Also, if does hit record high of $21, it may mean it can go up to $30 or more. That’s how crazy the market is now.
    • hphoa: 
      if fall back to $2 i will buy more, hopefully will not happen...
  • Guavaxf30
    01-25 03:29
    Guavaxf30
    At one point, RGTI was indeed up 19%. But in a couple of hours, it is now only up 1%. What is this telling you? For all we know, it may go up to $30 next week. Or it may come down to $6.00 ? Which way do you think it will go?
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