- Summary:
- Rigetti stock falls 47.60% after Nvidia CEO comments on quantum computing. Trading 55% down from its recent peak of $21.39. Can it recover?
Rigetti Computing (NASDAQ: RGTI), one of the most talked-about quantum computing stocks, suffered a dramatic plunge today. Shares fell over 47.60%, wiping out significant recent gains, following comments from Nvidia CEO Jensen Huang. During Nvidia’s analyst day, Huang cast doubt on the near-term utility of quantum computing, suggesting that “very useful” systems might be two decades away.
This sudden pullback comes as a reality check for Rigetti, which had soared over 1,500% in the past year. Investors are now questioning whether the stock can regain its momentum or if the hype around quantum computing is fizzling out.
Chart Analysis: Key Levels to Watch for Rigetti Stock
Looking at the chart, Rigetti Computing is currently trading at $9.65, down from its recent high of $21.39. This represents a significant decline of approximately 55% from its peak.
- Rigetti Computing Resistance Levels:
- $11.10: Immediate resistance; breaking above this level could indicate recovery.
- $15.44: Key resistance from December highs, requiring strong momentum to reclaim.
- $19.32 – $21.39: Major resistance zone; a rally beyond this would confirm bullish sentiment.
- Rigetti Computing Support Levels:
- $9.65: Current level; a breach could open the door to further downside.
- $5.92: Strong support zone from November highs; a critical level to monitor.
- $2.46: Long-term support and a worst-case scenario if the sell-off intensifies.
- Indicators:
- The RSI has shifted into oversold territory, suggesting a potential bounce in the short term.
- Moving averages indicate bearish momentum, with the 50-day MA acting as a ceiling for now.
Can Rigetti Recover in 2025?
Despite today’s sharp decline, Rigetti’s long-term prospects remain tied to the future of quantum computing. While Nvidia’s CEO provided a sobering outlook, Rigetti has positioned itself as a leader in the space, benefiting from recent advancements and partnerships.
However, the road ahead is challenging. Investors must weigh the stock’s speculative nature against its potential. For now, Rigetti’s ability to hold critical support levels and deliver tangible progress in its quantum technology will be the deciding factors in its 2025 outlook.
Conclusion
This pullback may test investor confidence, but it also offers a compelling opportunity to reassess Rigetti’s long-term value. Whether this is a momentary stumble or the start of a larger correction remains to be seen. For those following the quantum revolution, Rigetti remains a stock to watch.