Rigetti Computing (RGTI) shares soared 5.21% on Monday, riding the wave of investor frenzy surrounding the quantum computing industry. The stock's rally was driven by growing enthusiasm over recent major developments in the sector, including Google's unveiling of its "Willow" quantum chip.
The surge in Rigetti's stock price coincided with heavy trading activity, making it one of the most actively traded options on Monday. This speculative interest was further fueled by a former Rigetti executive, Rick Danis, cashing in on the rally by selling a substantial number of shares at prices significantly higher than initially estimated.
Analysts also remain optimistic about Rigetti's prospects, with the stock currently holding an average brokerage recommendation equivalent to a "Buy" rating. The company's position in the rapidly evolving quantum computing space has attracted investor attention, driving the stock's remarkable 1,600% rise this year.
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