Company Overview: Rigetti Computing, Inc. (NASDAQ: RGTI) is a full-stack quantum computing company that has operated quantum computers and serves through its Rigetti Quantum Cloud Services platform.  As per our previous report on RGTI on July 14, 2023, a ‘Speculative Buy’ recommendation was given on the stock at USD 1.92 and noted below are the details of the recommendation summary provided in the previous report:

Recommendation Summary as on July 14, 2023

RGTI’s Daily Chart

Considering the target levels achievement, current trading levels and associated risks, it is prudent to book profits at the current levels. Hence, a ‘Sell’ rating has been provided on the stock at the current market price of USD 2.78 as of August 01, 2023, at 06:44 AM PDT. 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is August 01, 2023, at 06:44 AM PDT. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.