Movement Alert｜Rigetti Computing Rises 9.12% in Pre-Market Trading, Oversold Rebound Continues Amid Quantum Computing Forum Catalyst

Market Focus

May 21

On May 21, Rigetti Computing rose 9.12% in pre-market trading, trading at $18.86/share, with trading volume of approximately $5.99 million.

On the news front, the rally is viewed as a continuation of the technical rebound following consecutive sessions of decline. After reporting Q1 revenue of $4.4 million — nearly tripling year-over-year and beating market expectations — the stock experienced sustained profit-taking from its May 14 level of $19.30 down to $15.54 on May 19, representing a cumulative drop of approximately 20%. The stock began recovering on May 20 with a 5.14% bounce, and today's pre-market gains extend that momentum from oversold territory.

Additionally, the company recently announced that CEO Dr. Subodh Kulkarni will participate in a fireside chat at the Canaccord Genuity Virtual Quantum Symposium, elevating market attention. Wedbush previously reiterated its Outperform rating with a $40 target price, citing the Cepheus-108Q system deployment on major cloud platforms as an important milestone.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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