Rigetti Computing soared 36% by the close of trading Thursday as quantum computing stocks continue to spike during the final month of 2024.

Arqit Quantum Inc., QUANTUM CORP rose 50%; D-Wave Systems Inc. increased 24%; Quantum Computing Inc. added 12.5%, IONQ Inc. jumped 8%.

Seeking Alpha analyst Joseph Parrish said in an analysis today that although Rigetti has potential, investors will have to be patient to see those results materialize.

"With Rigetti, there are promising seeds of a product-and-sales process that can bring quantum computing into the wider world, but I only see that possibility materializing at the tale-end of the decade for now, with plenty of risks along the way that a company needing to raise cash will face," Parrish noted.

Rigetti shares have gained a mind-boggling 543% this month. D-Wave has increased 275% over the same time frame. Meanwhile, IonQ, which several analysts feel is the most convincing investment of these stocks, has climbed 52% during the final month of 2024, which is rather mild compared to its peers.

"IonQ's financial health is robust with no debt and $360M in cash, reducing risks of dilution and bankruptcy despite operating losses," said James Foord, Investing Group Leader for The Pragmatic Investor.

"This company has the most compelling fundamentals out of the publicly traded quantum stocks, with what I consider to be superior technology and a stronger roadmap," he added.

"Unlike other names in the sector, IONQ has actually made quantum computing available to clients through most large cloud providers," Foord noted.