We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A close up of an engineer typing at a quantum computing station in a modern office space.

Rigetti Computing, Inc. (NASDAQ:RGTI)

Q4 Returns as of December 31, 2024: 1849%

In the fourth quarter of 2024, RGTI returned a staggering 1849%, growing from $0.78 on September 30 to $15.2 on December 31, 2024.

The quantum integrated circuits developer has a solid growth opportunity as tech giants and the US government increase their stake and investment in quantum computing.

In the third quarter of 2024, the company generated $2.4 million in revenue. While the company is still making a loss, RGTI expects to release revolutionary quantum chips in 2025, boosting investor optimism.

In an impressive feat, on December 23, 2024, Rigetti Computing Inc. (NASDAQ:RGTI) launched its revolutionary 84-qubit Ankaa-3 system. The quantum computer offers superior performance and is capable of 3D signal delivery.

Overall RGTI ranks 1st on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RGTI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

 

Disclosure: None. This article is originally published at Insider Monkey.