Rigetti’s Quantum Leap: A Tale of Stock Surge
It’s a curious thing, this habit of tech stocks moving in unison. One company announces a breakthrough, and suddenly the entire sector seems to bask in the glow of progress, like a group of startled moths fluttering around a single lightbulb. September saw this phenomenon in full swing. For instance, Rigetti’s 14% jump on Sept. 11 was partly due to IonQ’s restructuring-a business pivot that, to the uninitiated, sounds about as thrilling as watching paint dry. But Rigetti, it seems, was cooking its own batch of market-moving alchemy.