Rigetti (RGTI) Climbs 13% on Window-Dressing

We recently published Santa Came Early for These 10 Double-Digit Gainers. Rigetti Computing Inc. (NASDAQ:RGTI) is one of the best performers on Monday.

Rigetti Computing saw its share prices jump by 13.13 percent on Monday to close at $26.88 apiece, mimicking a broader market rally, supported by the quarterly and year-end window-dressing.

The practice is common among institutional investors, who tweak their portfolios ahead of the reporting periods by piling into strong performers and cutting exposure to laggards to present a more robust-looking portfolio to clients.

Rigetti (RGTI) Climbs 13% on Window-Dressing

Rigetti Computing Inc. (NASDAQ:RGTI) climbed alongside its peers, namely Quantum Computing Inc., D-Wave Quantum, and IonQ, amid the broader optimism for the sector.

In other news, Rigetti Computing Inc. (NASDAQ:RGTI) last week received an “outperform” rating and a $35 price target from Wedbush. Even with its three consecutive days of gains, the price target still marked a 30.2 percent upside potential from its latest closing price.

According to Wedbush, the coverage reflected the quantum computing firm’s decades of experience in the industry’s research and development, positioning itself as a leader in the superconducting qubit technology.

Additionally, it said that Rigetti Computing Inc. (NASDAQ:RGTI) is expected to benefit from an expected growth in the quantum hardware addressable market in the long run.

While we acknowledge the risk and potential of RGTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RGTI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.