Reasons Behind the Surge in Rigetti Computing Stock Today

Rigetti Computing Stock Gains Attention

Jim Cramer from CNBC recently suggested that Rigetti Computing might have significant potential. This shift in his assessment is quite notable, especially considering he had previously indicated that Rigetti wasn’t a strong choice in the quantum computing arena.

Recently, the company unveiled its most advanced quantum computing platform, and there may be a major development ahead later this year that could further impact its trajectory.

On Thursday, shares of Rigetti Computing (NASDAQ: RGTI) experienced a rise, increasing about 9.6% by 3:15 PM ET. In contrast, the S&P 500 went up 0.3% and the Nasdaq Composite climbed 0.6%. Earlier, quantum stocks had surged by around 12.2% that day.

Ligetti’s stock has benefited from recent remarks made by Cramer on his show, *Mad Money*. Despite considerable market fluctuations, the stock’s value has increased by approximately 19% over the past three months.

Cramer’s comments during a recent episode were encouraging. He mentioned that Ligetti might be on the verge of a significant breakthrough, suggesting that RGTI could be a noteworthy investment.

This is particularly interesting because Cramer had previously classified Ligetti as one of the weaker options among high-flying quantum stocks earlier this year.

A report for the second quarter released this month detailed that Rigetti has made its Cepheus-1-36Q available for commercial use. The firm claims its multi-chip quantum computers, which utilize 36 qubits, offer top-tier performance, setting the stage for the introduction of Rigetti Quantum Cloud Services. Additionally, the company plans to release over 100 qubit systems by year’s end. Although investing in this stock is considered high-risk and speculative, advancements in technology are visible within the quantum computing sector.

It’s worth reflecting on whether to invest in Rigetti Computing.

The team behind *Motley Fool Stock Advisor* has identified ten stocks they believe are better picks for investors right now, and Rigetti Computing is not included in that list. Those ten stocks could potentially yield significant returns in the coming years.

For some perspective, consider historic returns from well-known companies. For instance, a $1,000 investment in Netflix when it was recommended back in 2004 would now be worth around $659,823, while $1,000 in NVIDIA from 2005 would have ballooned to approximately $1,113,120.