Unity Software (NYSE:U) and Rigetti Computing (NASDAQ:RGTI) are two of the stocks advancing sharply on the first trading day of 2025.
Unity’s platform enables computer games to feature “real-time 3D content and experiences,” while Rigetti develops quantum-computing products.
A close-up of a consumer enjoying the company’s games on their mobile device.
Unity is climbing 13% after Roaring Kitty, who has inspired multiple meme-stock rallies through his social media contributions, included a depiction of musician Rick James in his post on X. James is known for performing a song called “Unity.”
Perhaps due to Roaring Kitty’s post, the mentions of Unity Software on social media are surging tremendously this morning.
Also noteworthy is that on Tuesday night there was a block trade of 1.32 million shares of U stock.
Turning to Rigetti, the quantum-computing company’s shares are jumping 8.5% after it was reported this morning that State Street, an investment bank, disclosed that it had acquired nearly 310,000 shares of the tech firm’s stock in the third quarter.
As a result, State Street’s stake in Rigetti rose by 12.9% in the third quarter to 2.71 million shares. The bank owned about 1.4% of Rigetti as of the end of Q3, while State Street’s position in Rigetti at that time was worth $2.125 million.
In the last three months, U stock has gained 21%, while RGTI has zoomed 1,986% higher.
While we acknowledge the potential of U, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than U but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.