DOUBLING DOWN ALERT: APPH, RGTI
- RTGW
- Jan 17, 2023
- 2 min read
We’re here with a quick update on our portfolio. As the market shows promise and provides us with some great insights and opportunities here at the start of the year, we’ve decided to double down on two positions: AppHarvest (APPH) and Rigetti Computing (RGTI). Both of these are stocks we believe in the future of, with AppHarvest having recently undergone a significant change and Rigetti being our primary quantum computing play, a technology we believe has the potential to grow exponentially in the future. It’s so cheap right now that averaging down our position almost seems necessary if we believe in the vision.
AppHarvest is a slightly longer story. Over the last couple of weeks, the company’s stock price has nearly tripled; even so, it still sits at less than $2. This sudden and rapid growth happened for a couple of reasons. The company’s previous COO, Julie Nelson, left in November and was recently replaced by Tony Martin. He sees AppHarvest’s potential and is more than willing to become a part of the vision to see that potential met. As more and more companies across the globe shift toward environment-friendly alternatives for just about everything, AppHarvest is setting itself up for future success.
Martin’s 12-year career includes a successful run with Windset Farms, another CEA (controlled environment agriculture) producer in North America. The company has 250 acres throughout the United States and Canada, and with AppHarvest having around one-hundred-fifty acres, we believe it’s safe to say that Martin can be trusted with ramping up production in a cost-efficient manner.
We’ve doubled our APPH and RGTI positions at $1.84 and $0.93, respectively.