Why IonQ Skyrocketed Almost 40% Today
Shares of quantum computing company IonQ (NYSE: IONQ) skyrocketed 37% on Thursday, after CEO Niccolo de Masi sat down with Barron's for an interview. During the interview, he outlined a lofty goal for the company, and even said that IonQ would be the "Nvidia" of quantum computing.However, a mere aspirational comment like that shouldn't put this speculative stock up by this much. Delving into the interview, there really wasn't anything tangible to warrant this kind of stock price increase.As we've seen over the past two years, whenever a stock is compared with Nvidia or has been shown to have received an investment from or partnership with the company, speculators tend to pile in. This happened just last week with respect to newly public "neo-cloud" CoreWeave, which skyrocketed after it was disclosed Nvidia had increased its position in the stock.Continue reading
Shares of quantum computing company IonQ (NYSE: IONQ) skyrocketed 37% on Thursday, after CEO Niccolo de Masi sat down with Barron's for an interview. During the interview, he outlined a lofty goal for the company, and even said that IonQ would be the "Nvidia" of quantum computing.
However, a mere aspirational comment like that shouldn't put this speculative stock up by this much. Delving into the interview, there really wasn't anything tangible to warrant this kind of stock price increase.
As we've seen over the past two years, whenever a stock is compared with Nvidia or has been shown to have received an investment from or partnership with the company, speculators tend to pile in. This happened just last week with respect to newly public "neo-cloud" CoreWeave, which skyrocketed after it was disclosed Nvidia had increased its position in the stock.
