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

Shares of Rigetti Computing Inc RGTI are down 22% Monday morning and have plummeted approximately 54% to $7.28 since Wednesday's open. Nvidia CEO Jensen Huang's and Meta Platforms CEO Mark Zuckerberg’s recent comments have raised doubts about the near-term viability 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 the most realistic timeframe for widespread adoption.

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While quantum computing excels in solving niche problems, such as optimization and cryptography, it currently struggles to handle larger datasets due to error rates and the limitations of current quantum processors.

Huang's remarks have prompted investors to reevaluate their expectations for the quantum computing sector, which had recently been viewed as a rapidly advancing field.

As a result, some investors may shift their focus toward companies demonstrating measurable short-term progress or reliable applications of quantum technology, rather than speculative long-term potential.

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How To Buy RGTI Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Rigetti Computing’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, RGTI has a 52-week high of $21.42 and a 52-week low of $0.66.