Should You Buy Rigetti Computing Stock While It's Under $20?
Before you buy for less than $20, there are a few things to consider.
Overview
Rigetti Computing's (NASDAQ: RGTI) quantum systems may one day crack problems that classical (ordinary) computers never could, like designing novel drugs or designing materials from the ground up. That day has yet to come, but the company, along with competitors like IonQ and D-Wave Quantum, is racing to create a computer powerful enough -- and, critically, reliable enough -- to do so.
Recently, the U.S. government made getting there a priority, placing Rigetti and a handful of other quantum firms on a short list of companies it's willing to back with public money. The company signed a letter of intent with the Commerce Department for up to $100 million over three years. The stock was up nearly 70% to just over $27 following the announcement, but has fallen since, now hovering around $16.60 as of July 8.
Details
So, is now the time to jump in? Is Rigetti stock a buy below $20?
Source
Originally published at www.fool.com.