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With its CEO stressing a need for reasonable expectations, Rigetti Computing (NASDAQ:RGTI) is calling caution as enthusiasm around quantum computing heats up. Stock of Rigetti Computing showed great momentum in regular trading hours; as of 9:41 AM ET, it gained 22.06% to $10.92.
Although recent swings in the company's share price have attracted interest in the industry, the leadership's clear message is that the emphasis still is on improving the technology before considering the business impact.The company admits that some of the claims making the rounds in the business have boosted expectations, impacting the present situation with quantum computing.
Rigetti is currently totally dedicated to improving its development techniques, hence it sees this as a vital step before talking about a significant sales jump.As investor interest keeps growing, Rigetti is guiding the discussion back to its long-term objectives, trying to make sure its technology produces significant returns when ready for more general market acceptance.
This article first appeared on GuruFocus.