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Why Rigetti Computing Stock Keeps Going Up Mitrade Com

Bonisiwe Shabane
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why rigetti computing stock keeps going up mitrade com

Rigetti Computing stock has been rising for three straight days. Earlier this week, the company announced a $5.7 million sale for two of its quantum computers. Over the last 12 months, Rigetti's sales totaled only $7.9 million. Shares of quantum computing company Rigetti Computing (NASDAQ: RGTI) soared 11.5% through 10:15 a.m. ET on Thursday -- all on no obvious news today. Rigetti did have some news earlier in the week, however.

It may be one reason why Rigetti stock has been growing in strength for three days straight, despite investor uncertainty about the U.S. government shutdown this week. Quantum computing firm Rigetti Computing (NASDAQ:RGTI) has been one of the best-performing stocks of the past year. On a 12-month basis, RGTI shares are up 930%, including a jump of over 40% in the last 30 days alone. Today, let’s take a look at why Rigetti stock is going up and whether this incredible momentum has staying power. Much of RGTI’s run over the last year can be accounted for by a more general bullish trend among quantum computing stocks.

With AI heating up the tech sector, more risk-tolerant investors are already on the hunt for the next area of technological breakthrough. To many, the answer is quantum computing and its ability to perform at speeds up to 100 million times faster than even the best classical computers. Rigetti Computing Inc (NASDAQ:RGTI) is trading lower Friday afternoon, marking a reversal after a surge earlier in the week driven by retail momentum and sector-wide optimism. The recent volatility comes amid a classic Santa Rally, where retail investors earlier this week rotated into high-beta quantum stocks while institutional trading desks thin out for the holidays. What To Know: Earlier gains this week were fueled by a wave of social media sentiment focused on Rigetti’s 2026 roadmap, which promises higher-qubit systems and significantly lower error rates. This retail interest was compounded by a halo effect from peers like IonQ and D-Wave, which also saw spikes following strategic milestones and bullish analyst coverage.

Notably, Wedbush recently initiated coverage on Rigetti with an Outperform rating and a $35 price target, citing the company’s advanced chiplets and vertically integrated production capabilities as key differentiators. Market observers note that this week’s price action fits the pattern of a “Holiday Gap,” where lower trading volumes between Dec. 20 and New Year’s allow retail sentiment to move small-cap stocks more aggressively. While retail investors likely drove the stock higher earlier in the week on the belief that the “quantum age” could arrive by 2026, Friday’s downturn suggests a pause in the momentum as the holiday... Rigetti Computing, Inc. (RGTI Quick QuoteRGTI - Free Report) has recently been on Zacks.com's list of the most searched stocks.

Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Over the past month, shares of this company have returned +0.7%, compared to the Zacks S&P 500 composite's +3% change. During this period, the Zacks Internet - Software industry, which Rigetti Computing falls in, has gained 7.9%. The key question now is: What could be the stock's future direction? While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually... Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection.

This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. With innovative investment tools and a collaborative trading community, eToro empowers millions of users in over 100 countries to trade and invest in a simple and transparent way.

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