Quantum computing stocks took a dive Wednesday after investors' perceptions about the outlook for the sector were dramatically corrected. Valuations in the nascent space had been

Rigetti Computing is at the forefront of the quantum computing industry, but the company has a speculative stock valuation.

Investors and traders will take their cue from the round numbers. The stock is likely to break back below $10 followed by a decline to $7.50 and then possibly $5. Each of these price levels will see investors and traders step in to “Buy the Dip” on the way down.

The gains came after Nvidia CEO Jensen Huang triggered a selloff in quantum computing stocks earlier this week with his remarks about the technology’s development.

Defiance Quantum ETF returned 60.4% over the last year through Jan. 3 -- just over double the S&P 500 Index's 28.1% return.

Quantum computing has received some recent investing interest over the past month thanks to Google's breakthrough in its Willow quantum computing chip. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is a much larger business with investments in quantum computing,

Rigetti Computing's technology roadmap aims to enhance its market position with significant milestones in 2025, including a 36-qubit and 100-qubit system.

Rigetti Computing (NASDAQ: RGTI) stock posted explosive gains across 2024. The quantum computing company's share price closed out the year's trading up 1,449.4%, according to data from S&P Global Market Intelligence.

Rigetti Computing (RGTI) is an integrated full-stack quantum computing company that focuses on designing and developing quantum chips. It was the first company to develop a multi-chip quantum processor.