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We recently published a list of These 10 Stocks Soared by Double Digits Today! In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against other stocks that soared today.
Rigetti Computing soared to a new 3-month high on Thursday, adding 26.46 percent to finish at $13.86 apiece, in line with the surge in its quantum computing peers.
During the session, Rigetti Computing, Inc. (NASDAQ:RGTI) traded higher alongside D-Wave Quantum Inc. (NYSE:QBTS), Quantum Computing Inc. (NASDAQ: QUBT), and IONQ Inc. (NYSE:IONQ), helped by developments in the quantum computing industry that spilled over into the company. This included a fellow quantum computing firm’s launch of a new computer that is said to be capable of solving problems beyond the capabilities of a classical GPU-based supercomputer.
A close up of an engineer typing at a quantum computing station in a modern office space.
Additionally, investors snapped up shares in Rigetti Computing, Inc.(NASDAQ:RGTI) following Craig-Hallum’s higher price target of $14. Based on its Thursday close, the company was just 1-percent shy of the said price target.
In recent news, Rigetti Computing, Inc. (NASDAQ:RGTI) said revenues fell by 52 percent to $1.47 million from $3.05 million in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year.
Overall, RGTI ranks 4th on our list of stocks that soared today. While we acknowledge the potential of RGTI, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RGTI and has 10,000% upside potential, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.