Leading stocks in the sector saw a large selloff after the astronomical rallies seen over the last couple of months following Jensen Huang’s comments during Nvidia’s analyst day. He stated that quatum computing would take another 20 years to reach useful capacity, disappointing expectations of speculative investors. Like other Quantum Computing stocks, Rigetti Computing’s stock price tanked by almost 45%.
Rigetti Computing currently offers a 9-qubit Novera QPU for sale and has recently announced the launch of its 84-qubit system. The company’s products are being intrgrated in major services such as Microsoft Azure, riding the quantum computing wave. Rigetti Computing plans to release it’s 100+ qubit system in 2025 to increase the applications of this system.
The stock now hovers at the $10 mark following Wednesday’s high volume selloff. This price level yields significant psychological significance, thus a break below this level will see further investor selloff. This will likely reach the 50 day moving average at the $6 mark, which would trigger many investors to buy the dip. It is important to question your own appetite for risk before deciding to invest in this company, which is still in it’s early stages.
drewtalksmoney 
Leave a comment