Rigetti Computing, Inc. (RGTI), a player in the quantum computing space, is experiencing an explosive start to the trading day, with its stock price surging dramatically at the market open. As of 10:01 AM EDT, shares of RGTI were trading at $11.76, a remarkable gain of 3.80%.
The intraday chart reveals an incredibly powerful bullish move. After opening at $11.51, well above the previous day’s close of 11.91**.
This vertical price surge was driven by an extraordinary spike in volume. Over 7.6 million shares changed hands in the first half-hour of trading alone, a significant fraction of its daily average volume. This indicates intense and widespread interest from market participants, suggesting a major catalyst may be at play. After its peak, the stock has pulled back slightly but continues to consolidate its strong gains.
Should You Buy or Sell the Stock Today?
The explosive price action presents both a significant opportunity and considerable risk:
-
The Bullish Case (Reasons to Buy): The primary bullish signal is the sheer force of the opening rally on massive volume. This is a classic sign of powerful buying demand and strong positive sentiment. The fact that the stock is holding its gains near the highs suggests the initial move has strong support.
-
The Bearish Case (Reasons to be Cautious): Moves this sharp and fast are often susceptible to equally rapid pullbacks as early buyers take profits. Chasing a stock after such a “parabolic” move can be risky. A failure to break the day’s high could lead to a retracement, potentially back towards the opening price level.
Our Opinion on the Stock
The immediate technical outlook for Rigetti stock is overwhelmingly bullish, driven by one of the most powerful opening moves seen today. The combination of price and volume indicates a significant event that has captured the market’s attention.
The key for the rest of the session will be whether the stock can absorb the initial profit-taking and continue its upward trajectory. The day’s high of 11.51 will now likely act as support. While the momentum is clearly with the buyers, the extreme volatility calls for careful risk management.
