Quantum Computing Stock Could Snap Losing Streak

Core Viewpoint - Rigetti Computing Inc (NASDAQ:RGTI) is experiencing a decline in stock price amidst a broader market slump, currently trading at $14.26, marking a 3.3% drop and a potential fifth consecutive daily decrease, although the $14 level may provide support for the stock [1] Group 1 - The stock's recent pullback has brought it within one standard deviation of its 50-day moving average, having been above this trendline in at least eight of the last ten trading days and spending 80% of the past two months above it [2] - Historical data indicates that similar pullbacks have led to a 75% success rate of the stock being higher one month later, with an average gain of 14.6%, suggesting a potential rise back above $16 from its current position [3] - A reduction in market pessimism could further benefit RGTI, as the stock's put/call open interest ratio is in the low 21st percentile, indicating a put-bias, and short interest represents 15% of the stock's available float [7]