Rigetti Computing (RGTI) Stock Pulls Back Friday: What's Going On?

Rigetti Computing Inc (NASDAQ:RGTI) is trading lower Friday afternoon, marking a reversal after a surge earlier in the week driven by retail momentum and sector-wide optimism. The recent volatility comes amid a classic Santa Rally, where retail investors earlier this week rotated into high-beta quantum stocks while institutional trading desks thin out for the holidays. Rigetti Computing stock is showing notable weakness. What’s pressuring RGTI stock? What To Know: Earlier gains this week were fueled by a wave of social media sentiment focused on Rigetti’s 2026 roadmap, which promises higher-qubit systems and significantly lower error rates. This retail interest was compounded by a halo effect from peers like IonQ and D-Wave, which also saw spikes following strategic milestones and bullish analyst coverage. Notably, Wedbush recently initiated coverage on Rigetti with an Outperform rating and a $35 price target, citing the company’s advanced chiplets and vertically integrated production capabilities as key differentiators. Market observers note that this week’s price action fits the pattern of a “Holiday Gap,” where lower trading volumes between Dec. 20 and New Year’s allow retail sentiment to move small-cap stocks more aggressively. While retail investors likely drove the stock higher earlier in the week on the belief that the “quantum age” could arrive by 2026, Friday’s downturn suggests a pause in the momentum as the holiday period progresses. What Else: Investors in recent months have also tracking a growing correlation between quantum and space stocks, which have moved in tandem during recent rallies and pullbacks. Quantum computing has been increasingly viewed as a strategic peer to the space and AI sectors, driven by shared national defense priorities. The Trump administration has also made quantum technologies a focal point of U.S. innovation in recent months, embedding them alongside AI in the FY2027 federal R&D roadmap. Meanwhile, Benchmark analyst David Williams in October called Rigetti's modular design a competitive advantage for the integration of quantum chiplets into the scalable systems required for these advanced strategic applications. Benzinga Edge Rankings: Despite the afternoon sell-off, Benzinga Edge data indicates significant underlying interest, highlighting a bullish Momentum score of 96.30 for the stock. RGTI Price Action: Rigetti Computing shares were down 6.61% at $72.10 at the time of publication on Friday, according to Benzinga Pro data. In terms of support and resistance levels, the stock appears to have established a critical support zone around the $22.90 mark, which was tested during the trading session. Should the price break below this level, it could open the door for further declines, potentially retesting the lower end of its 52-week range. Read Also: Nvidia Stock Climbs As The King Of AI Defends Its Throne Image: Shutterstock