In recent market activity, Rigetti Computing experienced a significant increase, with its stock rising by 11%. This growth continues a favorable trend for the quantum computing sector, with Rigetti’s stock now showing an impressive 1,674% increase over the past year.
Contrasting this, KULR Technology Group saw its shares decline by 2% after a substantial rise of over 40% earlier, driven by the company’s announcement of a Bitcoin purchase worth approximately $21 million. This was part of its newly launched Bitcoin Treasury initiative.
Honda’s stock climbed by 1% as the automaker continued to gain momentum following the announcement of merger discussions with Nissan. Honda’s stock has gained 20.7% this week, marking its strongest performance since 1988, attributed to a newly extended $3.3 billion merger agreement.
On the downside, MicroStrategy’s stock fell by 3%, despite an earlier surge related to Bitcoin prices approaching $96,000. Red Cat Holdings, which operates in the drone sector, saw its shares drop by 9%. This decline came after a remarkable year-to-date rally of 1,275% in December, when interest in drone technology was reignited.
South Korean stocks listed in the U.S. also experienced losses after the impeachment of acting President Han Deok-soo. The iShares MSCI Korea ETF fell by 1%, with notable decreases for companies like Korea Electric Power and Coupang.