Yes, thermostat stuck in the open position, almost certainly. While you are stationary, and no cold air passes over the engine and radiator, the bit of heat you have made, rises and the temperature sensor registers this on the gauge. Drive off, and the water pump speeds up, cold air passes through the engine, and down goes the temp gauge again. Get a new thermostat fitted, and take the opportunity to change the coolant, if it has not been done for a couple of years.
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