These 10 Stocks Are Flying High

5. Rigetti Computing, Inc. (NASDAQ:RGTI)

Rigetti Computing grew its share prices by 11.39 percent on Wednesday to finish at $12.52 apiece after successfully raising $350 million through a follow-on offering.

“With this additional funding, [Rigetti Computing, Inc. (NASDAQ:RGTI)] will have approximately $575 million of cash, cash equivalents, and available-for-sale investments with no debt, and is well positioned to support commercial scale-up of its superconducting gate-based quantum computers,” it said in a statement.

Proceeds from the offer will be used for working capital, capital expenditures, and other general corporate purposes. It may also use a portion of the net proceeds to enter into strategic collaborations, acquisitions, or partnerships in the future.

In recent news, Rigetti Computing, Inc. (NASDAQ:RGTI) said revenues fell by 52 percent to $1.47 million from $3.05 million in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year.