Mrzorro
01-09

Rigetti Joins Nvidia, Tesla. AMD in Most Active Options as Quantum Stocks Plunge


$Rigetti Computing(RGTI)$   joined $NVIDIA Corp(NVDA)$  , $Tesla Motors(TSLA)$   and $Advanced Micro Devices(AMD)$   in the list of the most active stock options as quantum computing stocks plunge. 

Shares of Rigetti, $IONQ Inc.(IONQ)$   and $Quantum Computing (QUBT.US)$ sank more than 45% after Nvidia Chief Executive Officer Jensen Huang said the world is between 15 to 30 years away from building useful quantum computers. 

Huang's comments at CES Financial Analyst Q&A Wednesday gave investors a reality check about quantum computing stocks that have been burning cash. In the three that ended Sept. 30, the company reported a loss of $14.8 million or 8 cents a share. 

More than 518,400 Rigetti options changed hands as of 11:59 p.m., almost double the 20-day average volume. Put options that give the holders the right to sell shares at $10 each in two days attracted the heaviest trading as the share slump boosted demand for contracts that could protect against further declines. 

Tuesday's slump came after the stock's 1,449% climb in 2024. The stock that has been languishing below $2 for much of last year, got a boost in December after $Alphabet-A (GOOGL.US)$ said its quantum computer solved in just five minutes a problem that would take supercomputers around 10 septillion years. That spurred investor enthusiasm over quantum computing stocks, igniting the rally that sent Rigetti shares to an intraday record high of $21.42 on Jan. 6.

"if you kind of said 15 years for very useful quantum computers, that would probably be on the early side, Huang said. "If you said 30, it's probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." 

IonQ options volume also soared, landing the company in the seventh slot for the most active stock options. More than 312,000 contracts changed hands so far, more than triple their 20-day average, according to data compiled by Bloomberg. 

Quantum Computing was just a step below $MicroStrategy (MSTR.US)$ in the options ranking, with 211,380 contracts changing hands, compared with the average of 122,588. 



@TigerStars  @CaptainTiger  @TigerWire  @Daily_Discussion  @Tiger_chat  @Tiger_comments  @MillionaireTiger  

Surging 50%! Is the Spring of Quantum Computing Back?
After consecutive declines, quantum computing stocks have surged more than 50% over the past two days. RGTI jumped nearly 70%, while QUBT soared 55% in a single day yesterday. --------------------- Is the spring of quantum computing back? With the market warming up and rate cut expectations rising, is the meme stock frenzy about to restart? Do you have confidence in the upcoming rebound? What's your target price?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
5
6