Why Rigetti Computing Is Extremely Volatile Today
Shares of Rigetti Computing (NASDAQ: RGTI) traded close to 11% down earlier today before recouping much of those losses. As of 11:42 a.m. ET today, the stock traded close to 2% higher. Rising U.S. Treasury bond yields seemed to hurt stocks earlier today, but a Wall Street analyst also significantly increased their price target on Rigetti this morning.
Despite the Federal Reserve lowering interest rates last week, longer-term Treasury yields edged higher over the past several days, as this group of investors may be concerned that the Fed isn't properly accounting for future inflation, leading them to sell bonds, which boosts yields. Rising bond yields can have a negative impact on stocks, especially high-growth and speculative stocks like Rigetti.
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Source Fool.com
