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 seen a sharp decline, largely due to heightened competition in the quantum computing sector and remarks from Nvidia’s CEO indicating that practical quantum computing may still be years away. Despite this, analysts remain hopeful about Rigetti’s future, expecting a reduced loss per share compared to last year. Analyst David Williams has even raised the stock’s price target after discussions with the company’s management, citing confidence in their technological direction and financial stability. Rigetti’s recent launch of the 84-qubit ‘Ankaa-3’ system underscores its progress, and options traders are bracing for significant stock price movements post-earnings report, reflecting the high stakes and potential volatility in the company’s financial outlook.
More about Rigetti Computing
YTD Price Performance: -57.70%
Average Trading Volume: 152,657,187
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.05B
For further insights into RGTI stock on TipRanks’ Stock Analysis page.
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