Rigetti Computing’s Volatility Amid Bond Yield Pressures and Analyst Optimism

Rigetti Computing (RGTI) shares swung wildly today, initially dropping 11% before recovering to trade 2% higher by midday. The volatility reflects competing forces: rising Treasury yields pressured speculative tech stocks, while a Wall Street upgrade buoyed investor sentiment.

Longer-term bond yields have climbed despite last week's Fed rate cut, signaling market skepticism about inflation control. This dynamic typically hits high-growth equities hardest. "Quantum computing stocks live at the intersection of promise and peril," observes one trader, noting their sensitivity to macroeconomic shifts.

B. Riley analyst Craig Ellis fueled the rebound with a dramatic price target hike from $19 to $35, citing accelerating quantum commercialization. The Department of Energy's growing interest in practical applications and a new $5.8 million Air Force contract suggest institutional validation of Rigetti's technology roadmap.