Rigetti Computing shares remain in their long- and short-term bull market trends with a target price of $25.

Adding to the pressure, D-Wave announced on Friday that the company was going to sell up to $150 million in common shares. That move would dilute the current shareholders of the company. Early stage companies often take advantage of price increases to raise capital to invest in their research and development.

American stocks have started the year well, with the S&P 500 and Nasdaq 100 indices soaring to their record highs. This trend may continue although risks remain, especially with the Federal Reserve maintaining a hawkish tone and Donald Trump threatening tariffs on imports.

Rigetti Computing (RGTI) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Rigetti Computing's financials show low and inconsistent revenues, a declining cash position, and increasing share dilution. Read why RGTI stock is a Hold.