Why Did Rigetti Computing Stock Skyrocket 25% Today?
Shares of Rigetti Computing (NASDAQ: RGTI) soared on Monday, finishing up 25%. The spike came as the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 1.5% and 2.2%, respectively.
The quantum computing stock surged after JPMorgan Chase revealed plans to invest $10 billion in various industries and technologies under its broad "Security and Resiliency Initiative" aimed at boosting U.S. economic and technological leadership. Quantum computing was among the 27 areas targeted.
In the announcement, CEO Jamie Dimon said that American "security is predicated on the strength and resiliency of America's economy" and that the investments will help "modernize infrastructure, fortify supply chains, and implement policies that promote growth."
Source Fool.com
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