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

Shares of Rigetti Computing Inc RGTI are trading higher by 24.3% to $7.53 during Tuesday’s session. The stock is rebounding after selling off following recent remarks by Nvidia CEO Jensen Huang and Meta Platforms CEO Mark Zuckerberg that cast uncertainty on the timeline for quantum computing’s practical applications.

What To Know: Huang stated during Nvidia's analyst day that functional quantum computers capable of solving real-world problems are likely 15 to 30 years away, with 20 years being the most realistic forecast.

Rigetti Computing's shares were also influenced by Mark Zuckerberg's comments during his appearance on Joe Rogan’s podcast. Zuckerberg acknowledged that he was not an expert in quantum computing but understood that technology was still far from becoming a practical and widely usable paradigm.

Read Also: Jensen Huang Said Quantum Computing Is 20 Years Away, But Nvidia Bets Big On Strategic Hiring

His remarks reinforced skepticism about the short-term feasibility of quantum computing, adding to the cautious outlook shared by industry leaders.

What Else: Rigetti Computing specializes in developing quantum processors and integrated systems to solve complex problems faster than traditional computers.

While quantum computing has shown promise in niche areas like optimization and cryptography, its current technology struggles with high error rates and handling large datasets. These challenges have potentially tempered expectations for near-term breakthroughs.

Read Also: Jensen Huang Is ‘Dead Wrong’ About Quantum Computing, D-Wave CEO Fires Back At Nvidia Boss: ‘Happy To Meet With Jensen Any Time, Any Place, To Help Fill In These Gaps’

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.

Shares of Rigetti Computing have gained 499.01% year to date. This compares to the average annual return of -15.37%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Rigetti Computing stock currently has an RSI of 16.79, indicating oversold conditions.

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