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

Quantum computing was one of the hot trends of the past few months as stocks have doubled or more following Alphabet's (NASDAQ: GOOG) Willow announcement. Investors looking for any way to play the quantum computing space have pushed microcap stocks into the stratosphere.

AI should serve as a key tailwind for all the Magnificent Seven stocks. Some of them could be winners in quantum computing as well, notably including Amazon, Microsoft, and Nvidia. Amazon, Nvidia, and Tesla are focusing on the robotaxi market in different ways.

As with any Discovery Stock, investors are looking to the price and the potential of the stock, not the fundamentals. As it stands now, IonQ has the benefit of round numbered support from the $30 price. Shares recently saw support at $40 on their ascent and then resistance at $50, displaying the effect of round-numbered prices.

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.

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

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.