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 experienced a decline, despite analysts at Benchmark raising their price target from $2.50 to $14 and maintaining a Buy rating. This optimism stems from Rigetti’s technological advancements, particularly its superconducting approach and modular architecture, which are believed to address scalability issues in quantum computing. The company’s open architecture is also seen as a strength, allowing integration with new technologies like Amazon’s quantum chip. However, the stock fell by about 7% to $8.64, influenced by market volatility and competitive pressures from major companies like Amazon.
More about Rigetti Computing
YTD Price Performance: -53.60%
Average Trading Volume: 153,910,755
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.25B
For further insights into RGTI stock on TipRanks’ Stock Analysis page.
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