Tesla, Robinhood And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 13 2025
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Source: Benzinga
U.S. Stock Market Trends: U.S. stock futures are down, with the Dow futures dropping over 100 points; notable declines include Tesla shares falling 2.8% after raising prices in Canada, and several other companies like SEALSQ Corp and Rigetti Computing experiencing significant pre-market losses.
Impact of Wildfire Losses: Mercury General Corporation's shares fell 13.4% following an announcement of anticipated wildfire losses exceeding $150 million in Southern California, contributing to a broader trend of declining stock values in the market.
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Analyst Views on RGTI
Wall Street analysts forecast RGTI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RGTI is 39.75 USD with a low forecast of 30.00 USD and a high forecast of 51.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
7 Buy
3 Hold
0 Sell
Moderate Buy
Current: 22.010
Low
30.00
Averages
39.75
High
51.00
Current: 22.010
Low
30.00
Averages
39.75
High
51.00
About RGTI
Rigetti Computing, Inc. is a full-stack quantum computing company. The Company operates quantum computers over the cloud and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company’s quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. It has developed a multi-chip quantum processor for scalable quantum computing systems. Through the Company’s Quantum Computing as a Service (QCaaS) platform, its machines can be integrated into any public, private or hybrid cloud. It is also engaged in the sale of quantum processing units (QPUs) and custom computing components, and development contracts and other services. Its QPUs contain fabricated silicon-based chips featuring superconducting qubits. The Company designs and manufactures its chips in-house at Fab-1, an integrated quantum device manufacturing facility.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Rigetti Computing's Quantum Revolution and Stock Volatility
- Investment Return Analysis: Rigetti Computing has achieved a total return of 137% over the past five years, translating to an average annual return of approximately 18.8%, meaning a $1,000 investment five years ago is now worth about $2,370, showcasing the potential of long-term investments.
- Severe Stock Volatility: Despite Rigetti's remarkable rebound of 5,000% from its low in early 2025, pushing its market cap above $5.5 billion, the stock has since dropped over 50% from its peak, reflecting market uncertainty about its future.
- Market Environment Impact: The high inflation of 2022 and the subsequent bear market led investors to abandon potential stocks, causing Rigetti's stock to plummet more than 96% during this period, highlighting the market's sensitivity to short-term performance.
- AI Boom Fuels Recovery: As inflation stabilized and the AI frenzy gained momentum, Rigetti's stock experienced a significant rebound, becoming one of the most closely watched stocks in the market, underscoring investment opportunities in the quantum computing sector.
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Rigetti vs QCi: A Comparative Analysis of Quantum Computing Investments
- Market Performance Divergence: Over the past 12 months, Rigetti's stock surged nearly 60%, while QCi's rose only 3%, indicating Rigetti's strong performance and investor confidence in the quantum computing market.
- Technological Comparison: Rigetti accelerates electrons through superconducting loops to achieve quantum states, which, despite high operational costs, offers higher gate fidelity, maintaining its competitive edge; in contrast, QCi's photonic chips show manufacturing potential but are costly to produce in small quantities.
- Future Revenue Projections: Analysts expect Rigetti's revenue to grow from $7.6 million in 2025 to $45.4 million in 2027, highlighting the market potential of its new systems, while QCi is projected to reach $15 million in revenue by 2027, though it still faces profitability challenges.
- Investment Recommendation: While both companies are high-risk investments, Rigetti stands out as a more attractive option due to its established technology and clear roadmap for future growth, whereas QCi must overcome significant manufacturing hurdles to compete.
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