Does Billionaire Israel Englander Know Something Wall Street Doesn't? He Sold a Quantum Computing Stock Analysts Say to Buy.
In the first quarter, hedge fund billionaire Israel Englander of Millennium Management sold 1.2 million shares of Rigetti Computing (NASDAQ: RGTI), reducing his stake in the quantum computing stock by 80%. The sale represented a sharp turnaround from the prior quarter, when Englander purchased 1.4 million shares.His decision to sell stands out because all six analysts who follow Rigetti have a "buy" rating on the stock. The target prices range from $14 per share to $16 per share, implying upside of 21% to 39% from the current share price of $11.50. Put differently, not one analyst thinks the stock is overvalued at its current price.Does Israel Englander know something Wall Street doesn't?Continue reading
In the first quarter, hedge fund billionaire Israel Englander of Millennium Management sold 1.2 million shares of Rigetti Computing (NASDAQ: RGTI), reducing his stake in the quantum computing stock by 80%. The sale represented a sharp turnaround from the prior quarter, when Englander purchased 1.4 million shares.
His decision to sell stands out because all six analysts who follow Rigetti have a "buy" rating on the stock. The target prices range from $14 per share to $16 per share, implying upside of 21% to 39% from the current share price of $11.50. Put differently, not one analyst thinks the stock is overvalued at its current price.
Does Israel Englander know something Wall Street doesn't?
