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 experienced a downturn primarily due to its announcement of an Open Market Sale Agreement with Jefferies LLC, which allows the company to sell shares up to $350 million. This move, aimed at enhancing its capital-raising strategy, comes amidst financial struggles marked by declining revenues and profitability issues. Despite a ‘Buy’ rating with a price target of $2.00, the mixed sentiment surrounding the stock is influenced by significant financial pressures. The company’s filing of an automatic mixed securities shelf further underscores its efforts to secure additional funding to tackle these challenges.
More about Rigetti Computing
YTD Price Performance: -34.25%
Average Trading Volume: 51,702,254
Technical Sentiment Signal: Buy
Current Market Cap: $3.82B
For further insights into RGTI stock on TipRanks’ Stock Analysis page.
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