Rigetti Computing ( (RGTI) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Rigetti Computing’s stock has been on a rollercoaster due to claims of misleading investors about its quantum computing progress. The situation worsened when NVIDIA’s CEO suggested that practical quantum computing is still far off, causing a sharp price drop. However, Alliance Global Partners has increased their price target for Rigetti, fueled by the potential for government contracts and funding, particularly from initiatives such as DARPA. Furthermore, Rigetti’s recent research on optical transducers, published in Nature Physics, underscores its technological strides, bolstering its long-term outlook.
More about Rigetti Computing
YTD Price Performance: -44.90%
Average Trading Volume: 151,311,601
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.99B
For further insights into RGTI stock on TipRanks’ Stock Analysis page.
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