Rigetti Computing Hits Over Two-Year High As Quantum Stocks Continue To Surge: Retail Eyes More Upside

Shares of Rigetti Computing Inc. surged more than 30% on Tuesday, closing at over two-year highs of $11.13 after briefly touching an intraday high of $11.20. 

The rally marks Rigetti’s third consecutive day of gains as quantum computing stocks stole the spotlight away from big tech and crypto-linked stocks.

The stock has now jumped 756% over the past 30 days. On Stocktwits, the quantum computing company remained one of the top-trending tickers, with retail chatter surging 23,016% and investors tracking the stock climbing 180% during the same period.

The latest surge comes as the broader quantum computing sector heats up. Shares of Quantum Computing Inc. (QUBT) continued their momentum after Monday’s NASA contract announcement, where its Dirac-3 quantum optimization machine will address advanced imaging and data processing challenges. 

QUBT shares surged 68% on Monday and climbed another 46% on Tuesday. 

Meanwhile, D-Wave Quantum Inc. rose 16.2% and IonQ Inc. added 4.8%.

According to an ongoing poll on Stocktwits, retail investors on the platform believe that Rigetii has the most long-term potential among quantum stocks, with IonQ not too far behind.

Stocktwits Poll Asking, "Which Quantum Stock Has The Most Long-Term Potential" on Dec 17 as of 4:00 p.m. ET | Source: Stocktwits

Rigetti has positioned itself as a leading player in quantum computing, benefiting from Amazon Web Services’ Braket platform, which provides businesses with access to quantum hardware. 

Rigetti’s 84-qubit Ankaa-2 superconducting processor, launched earlier this year, is now integrated into AWS’s Braket service, expanding its reach to customers exploring quantum applications.

Last week, the company announced that it had successfully used AI to automate the calibration of a quantum computer. 

Rigetti Computing Sentiment and Message Volume on Dec 17 as of 4:00 p.m. ET | Source: Stocktwits

Retail sentiment around Rigetti remained in the ‘bullish’ zone on Tuesday. Chatter also remained at ‘high’ levels. 

Users on the platform were celebrating Rigetti’s bull run and the future growth potential of quantum computing. Many are expecting the stock to hit $20 by the end of the week.

The stock is shaping up to be one of 2024’s most remarkable performers with gains of 1,109% year-to-date.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

Read also: Arm Stock Slips As Court Room Battle With Qualcomm Kicks Off In Delaware: Retail Divided