Rigetti Computing ( (RGTI) ) has risen by 15.29%. Read on to learn why.
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Rigetti Computing has experienced a notable 15.29% increase in its stock price over the past week. This surge is largely attributed to heightened activity in its stock options, with call options trading at twice the usual volume. Investors are optimistic ahead of the company’s upcoming earnings report, and this sentiment is reflected in the low Put/Call Ratio, indicating a bullish outlook among traders.
The company’s recent strategic moves have also contributed to the positive stock movement. Rigetti has secured a new investment deal with Quanta Computer, which involved a $35 million purchase of Rigetti’s common stock. Additionally, Rigetti received an award from the Air Force Office of Scientific Research to further develop its chip fabrication technology, Alternating-Bias Assisted Annealing. These developments have bolstered investor confidence in Rigetti’s future prospects.
Despite the recent upswing, it’s important to note that Rigetti’s year-to-date price performance remains down by 54.30%. However, the current market cap stands at $2.62 billion, and the company’s strategic partnerships and technological advancements suggest potential for future growth. As the earnings report approaches, investors will be keenly watching for any further developments that could impact Rigetti’s stock trajectory.