Rigetti Computing Stock Skyrockets: Here’s What’s Fueling the Quantum Leap

Quantum computing just got a Wall Street adrenaline shot—Rigetti shares are defying gravity today. Here's why traders are piling into this speculative frenzy.

The catalyst? A perfect storm of hype and hardware.

While legacy investors scramble to understand qubit supremacy, algo traders are front-running the FOMO. Rigetti's latest quantum volume metrics—buried in an SEC filing—lit the match. Never mind that most hedge funds can't spell 'superconducting resonator.'

Short squeeze or sustainable momentum?

The stock's 30% surge smells like a gamma ramp, not a fundamental breakthrough. But in today's market, narrative trumps P/E ratios every time. Just ask the crypto degens still holding bags from the last quantum 'revolution.'

One thing's certain: when quantum meets QAnon-level speculation, volatility goes parabolic. Buckle up—this rocket ship runs on diluted shareholder equity.

Industry momentum is building

Needham analyst Quinn Bolton increased his price target on Rigetti by $3 to $18 per share, implying about 15% upside from current levels. Bolton believes there is momentum in the quantum computing sector. He is specifically watching the Defense Advanced Research Projects Agency's (DARPA) Quantum Benchmark Initiative (QBI) and a pending bill in Congress called the Department of Energy Quantum Leadership Act.

Image source: Getty Images.

An independent research and development (R&D) agency stashed within the U.S. Department of Defense, DARPA was created in response to the launch of Sputnik in 1957 and works to ensure the country is always prepared to "face a strategic technical surprise." QBI's goal is to determine the plausibility of building a quantum computer with a "computational value" that surpasses its cost by the year 2033. The initiative is currently in stage A.

Meanwhile, the Department of Energy Quantum Leadership Act is a bipartisan bill that WOULD increase R&D in the quantum information space, potentially allocating $2.5 billion over the next five years to research. The bill is currently pending in the Senate and has been referred to the Committee on Energy and Natural Resources.

Lots of excitement around this speculative space

Quantum computing stocks have generated significant buzz over the last year, given the technology's potential to revolutionize society. Rigetti is believed to be one of the leaders in the space.

Still, quantum computers haven't really been commercialized yet and many companies like Rigetti are losing money and generating very little in revenue, while trading at multibillion-dollar market caps. For this reason, I would keep positions smaller and more speculative.