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Why Rigetti Computing Stock Blasted 18% Skyward Today
The volatile, up-and-down nature of quantum computing stocks was strongly in evidence Wednesday with sector title Rigetti Computing (NASDAQ: RGTI). The company's shares lept 18% higher, on the back of a major quantum computing deal announced by a peer. An analyst's price target raise didn't hurt either. That raise absolutely crushed the S&P 500 (SNPINDEX: ^GSPC), which only crept 0.1% higher that day. That peer is Quantinuum, a company in which U.S. industrial giant Honeywell owns a stake. On Wednesday, Quantinuum announced that it is creating a joint venture with Qatar's Al Rabban Capital to develop that country's quantum computing capability. Image source: Getty Images.Continue reading
The volatile, up-and-down nature of quantum computing stocks was strongly in evidence Wednesday with sector title Rigetti Computing (NASDAQ: RGTI). The company's shares lept 18% higher, on the back of a major quantum computing deal announced by a peer. An analyst's price target raise didn't hurt either. That raise absolutely crushed the S&P 500 (SNPINDEX: ^GSPC), which only crept 0.1% higher that day.
That peer is Quantinuum, a company in which U.S. industrial giant Honeywell owns a stake. On Wednesday, Quantinuum announced that it is creating a joint venture with Qatar's Al Rabban Capital to develop that country's quantum computing capability.
Image source: Getty Images.
