Why Did Rigetti Computing Stock Soar 18.3% Today?
Shares of Rigetti Computing (NASDAQ: RGTI) soared on Friday, finishing the day up 18.3%.
The major gain wasn't driven by company-specific news; rather, the quantum computing developer's stock was caught up in a broader tech rally.
After a brutal four days of trading that saw the tech-heavy Nasdaq Composite lose nearly 4.5%, today marked a sharp reversal, with the index finishing the day up 2.1%. The sell-off was sparked by renewed fears of an artificial intelligence (AI) bubble, fueled by a round of big tech earnings revealing that the already staggering spending spree is accelerating.
Source Fool.com
