RGTI Stock Surges After State Street Corp Scoops Up Shares: Retail Remains Frosty
RGTI shares have surged by over 460% in the past month.
FollowShares of Rigetti Computing Inc. (RGTI) surged in Thursday afternoon trade after State Street Corp. reported increasing its stake in the quantum computing company.
In its latest 13F filing with the U.S. Securities and Exchange Commission (SEC,) State Street reported a purchase of 309,831 shares, bringing its total holdings to 2.7 million, valued at $2.1 million.
Other major institutional holders of Rigetti Computing include Deer Management, BlackRock, Vanguard, and Penserra Capital Management.
This sent RGTI stock price soaring in the first trading session of 2025, with gains of nearly 12% at the time of writing.
Growing institutional interest in quantum computing stocks coincides with bullish retail sentiment on Stocktwits in this category.
According to a recent poll, retail investors on Stocktwits think that quantum computing stocks will outperform shares of AI companies in 2025.
Despite this, retail sentiment on Stocktwits remained in the ‘bearish’ (42/100) territory, worsening from the previous day.
RGTI sentiment and message volume January 2, 2025, as of 2:20 pm ET | Source: Stocktwits
Meanwhile, a user posted an analysis of RGTI share price compared to analysts’ price targets for the stock, while another user expressed their agreement with the bear thesis.
One user thinks the bubble will not sustain for long.
Not everyone is convinced, however, with one user saying it’s time to “consolidate bear money.”
RGTI share price has gained over 460% in the past month. Over the past year, the stock has skyrocketed 1,751%.
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