Rigetti Computing ( (RGTI) ) has fallen by -15.53%. Read on to learn why.
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Rigetti Computing has experienced a significant stock price decline of 15.53% over the past week, drawing attention from investors and market analysts. The drop comes amidst a notable shift in investment strategy by billionaire hedge fund manager Paul Tudor Jones, who has moved his focus from Palantir to Rigetti Computing. This move signals a potential pivot towards the burgeoning quantum computing sector, which is expected to grow substantially in the coming years.
Despite the recent downturn, Rigetti Computing remains a high-risk, high-reward investment opportunity. The company’s stock has already seen impressive gains earlier in the year, but the market’s mixed sentiment and increased demand for downside protection have contributed to the recent decline. Options trading around Rigetti has been particularly active, with a higher volume of put options indicating a cautious outlook from traders.
Wall Street analysts, however, maintain a bullish stance on Rigetti, contrasting with a more neutral view on Palantir. The quantum computing market’s potential growth, estimated to reach $97 billion by 2035, underpins the optimism surrounding Rigetti. Investors are closely monitoring the company’s progress in commercializing its technology, as well as the broader market dynamics influencing its stock performance.