Rigetti Computing (RGTI) Stock Is Exploding Higher: What's Going On?

Rigetti Computing Inc RGTI shares are trading higher by 39.6% to $1.44 during Thursday's session, despite a lack of company-specific news. Rigetti Computing stock is rising on heavy volume Thursday afternoon with 12.231 million shares traded, over 7x the trailing 100-day trailing volume of 1.654 million shares.

The increase in share price Thursday is taking place as the stock trends across social media platforms. RGTI meanwhile has a total share float of 5.44 million, of which 106.965 million shares are sold short, representing 5.09% of shares sold short.

See Also: Rigetti Computing Short Interest Report

Rigetti Computing is engaged in the business of full-stack quantum computing.

According to data from Benzinga Pro, RGTI has a 52-week high of $6.78 and a 52-week low of $0.36.