Rigetti Computing's stock soared 5.10% during intraday trading on Wednesday, as the quantum computing company participated in a broad market advance for risky assets.

Market analysis indicates a resurgence of investor interest in highly speculative stocks this month, with quantum computing names like Rigetti Computing and IonQ recording significant gains. This trend is characterized as a "rolling momentum trade," where capital rotates into risky equity bets after previous momentum themes in cryptocurrencies and precious metals lost steam.

The renewed risk appetite has buoyed shares of unprofitable and story-driven companies. Rigetti Computing, as a player in the quantum computing sector, is also garnering attention as investors look ahead to the company's upcoming first-quarter earnings report and compare its prospects with industry peers.