What's Going On With Rigetti Computing (RGTI) Stock?

Shares of Rigetti Computing Inc RGTI are trading lower by 40% to $9.64 since Wednesday’s open following comments from Nvidia CEO Jensen Huang that cast doubt on the near-term potential of quantum computing.

What Happened: During Nvidia’s analyst day, Huang suggested that practical quantum computers are still 15 to 30 years away, with 20 years being a more realistic estimate.

He noted that while quantum computing excels in handling small datasets and specific computational tasks, it struggles with larger datasets.

Huang's remarks this week have prompted investors to reevaluate their expectations for the quantum computing industry, which had recently gained momentum. This reassessment may lead to a shift in investment strategies, potentially focusing more on companies demonstrating measurable progress.

Read Also: Nvidia CEO Sends Quantum Stocks Lower: Poll Finds Over 50% Pick Rigetti Or Skip For 2025

Should I Sell My RGTI Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold.

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RGTI has a 52-week high of $21.42 and a 52-week low of $0.66.