Shares of Rigetti Computing (RGTI) surged 5.83% in after-hours trading on Tuesday, riding the wave of investor excitement surrounding quantum computing stocks. The company's stock closed the regular trading session at $2.16 and continued its upward trajectory in the post-market hours.
The surge in Rigetti Computing's stock price appears to be fueled by the overall hype and speculative trading surrounding quantum computing companies. Recent advancements in the field, such as Alphabet's revelation of its "Willow" quantum chip capable of tackling complex problems in minutes, have captured the imagination of investors.
While the practical applications of quantum computing are still emerging, investors are rushing to seize the potential of this rapidly evolving technology. As a result, stocks like Rigetti Computing and Quantum Computing Inc. (QUBT) have seen their share prices skyrocket, with QUBT and RGTI stocks recording gains of 1,786% and 1,647%, respectively, in 2024.
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