Rigetti Computing Hits Day High with 9.95% Surge in Strong Intraday Performance

Rigetti Computing, Inc. has experienced significant activity today, with the stock rising by 9.95% and reaching an intraday high of USD 22.12. This notable performance stands out against the backdrop of the broader market, as the S&P 500 has seen a slight decline of 0.13% on the same day. In terms of performance metrics, Rigetti Computing has shown remarkable growth over various time frames. Over the past year, the stock has surged by an impressive 2034.95%, significantly outperforming the S&P 500's 17.28% increase. The company's year-to-date performance also reflects a solid gain of 44.1%, compared to the S&P 500's 12.33%. Despite these short-term gains, Rigetti faces challenges in its long-term growth trajectory, with net sales declining at an annual rate of 50.83% over the past five years. Additionally, the company reported a negative EBITDA and a significant increase in raw material costs, which rose by 659.43% year-over-year. As a small-cap player in the IT hardware industry, Rigetti Computing's market capitalization stands at USD 4,911 million.