Rigetti (RGTI) Climbs 13% on Window-Dressing

We recently published Santa Came Early for These 10 Double-Digit Gainers. Rigetti Computing Inc. (NASDAQ:RGTI) is one of the best performers on Monday.

Rigetti Computing saw its share prices jump by 13.13 percent on Monday to close at $26.88 apiece, mimicking a broader market rally, supported by the quarterly and year-end window-dressing.

The practice is common among institutional investors, who tweak their portfolios ahead of the reporting periods by piling into strong performers and cutting exposure to laggards to present a more robust-looking portfolio to clients.

Rigetti Computing Inc. (NASDAQ:RGTI) climbed alongside its peers, namely Quantum Computing Inc., D-Wave Quantum, and IonQ, amid the broader optimism for the sector.

In other news, Rigetti Computing Inc. (NASDAQ:RGTI) last week received an “outperform” rating and a $35 price target from Wedbush. Even with its three consecutive days of gains, the price target still marked a 30.2 percent upside potential from its latest closing price.

According to Wedbush, the coverage reflected the quantum computing firm’s decades of experience in the industry’s research and development, positioning itself as a leader in the superconducting qubit technology.

Additionally, it said that Rigetti Computing Inc. (NASDAQ:RGTI) is expected to benefit from an expected growth in the quantum hardware addressable market in the long run.

While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.