RGTI earlier notched a fresh record high
Enthusiasm over the quantum computing space is strong as 2025 approaches. Rigetti Computing Inc (NASDAQ:RGTI) is among the Nasdaq Composite's (IXIC) leaders today, last seen up 13% to trade at a record high of $19.35. Sector peers D-Wave Quantum Inc (NYSE:QBTS) and Quantum Computing Inc (NASDAQ:QUBT) are higher as well, so now is an excellent time to check in with the buzzy industry.
RGTI is looking to extend yesterday's 36% pop to close out a perfect week. The shares are pacing for their sixth-straight weekly gain and boast a jaw-dropping 1,594.4% lead for 2024, with long-term support stemming from the 20-day moving average. The equity looks ripe for a short squeeze, too, with short interest on the rise although it already accounts for 15.1% of its total available float.
QBTS is up 10.2% to trade at a two-year high of $11.41 at last check. The stock is eyeing its fourth gain over the last five session and its seventh weekly pop in eight, while sporting a 1,062.9% lead for 2024. The security is also heavily shorted, with the 32.2 million shares sold short accounting for 13.2% of its total available float.
Last seen up 11.1% at $21.38, QUBT is fresh off a Dec. 18, six-year peak of $27.15. The equity is also trading above all significant long- and short-term trendlines. Short sellers are hitting the exits, with short interest down 11% over the last two reporting periods, but the 12.99 million shares sold short still make up 13.8% of the stock's total available float.