Why Rigetti Computing Stock Was Up a Mind-Blowing 400% Just in December

Shares of quantum computing company Rigetti Computing (NASDAQ: RGTI) were up a mind-blowing 400.3% during December, according to data provided by S&P Global Market Intelligence. The company updated its roadmap in November, which seems to have served as an early catalyst. Then on Dec. 9, Alphabet's Google announced a quantum breakthrough that exhilarated the investing community about the potential of quantum computing generally.Therefore, there truly have been developments in the world of quantum computers, but this hasn't necessarily trickled down to something material for Rigetti Computing's financials yet. In fact, its revenue through the first three quarters of 2024 is down compared to 2023.This situation is consequently fragile -- Rigetti stock is flying high but its fundamentals have yet to improve. And on Jan. 7, investors were shown just how delicate this can be. Nvidia CEO Jensen Huang said at the CES trade show that it will likely be somewhere around 20 years before there are "very useful quantum computers."Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool