2 Stocks Under $20 With Massive Potential Still

Stocks are a volatile bunch today, with Wall Street suffering from whiplash amid Trump's Fed Chair rhetoric. Two stocks that are weathering the storm -- and then some -- are Joby Aviation Inc (NYSE:JOBY) and Rigetti Computing Inc (NASDAQ:RGTI). 

JOBY is up 15.3% to trade at $16.08. Yesterday, the eVTOL (electric vertical takeoff and landing) aircraft makers announced plans to double production in their Dayton, Ohio and Marina, California locations. The shares are up 34.5% this week alone, and are now over 117% higher year-over-year. 

There's massive contrarian potential still. Of the nine brokerages covering the stock, six maintain "hold" or "strong sell" ratings, while amongst short sellers, a healthy 12.6% of JOBY's total available float is sold short.

RGTI is 30% higher to trade at $16.57, on pace for its best single-session gain since Jan. 14. The quantum computing company unveiled that its 36-Qubit system achieved a mid-year performance of 99.5% median two-qubit gate fidelity, a massive step forward for the speculative technology. RGTI is trading at its highest level since a Jan. 7 bear gap, and is now 1,183% higher year-over-year.

While analysts are all in on Rigetti, options traders and short sellers are not. The stock’s 10-day put/call volume ratio of 0.85 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits higher than 96% of readings from the past year. So while calls still outflank puts on an absolute basis, the high percentile means options traders have been much more pessimistic than usual.

And with 18% of RGTI's total available float sold short, an unwinding of these bearish bets could keep the wind at the equity's back.