Finding a company that can make you a millionaire from a modest investment is rare. However, they are out there and sometimes right under investors' noses.
Quantum computing expert IonQ (IONQ 12.80%) is taking the stock market by storm nowadays. By Dec. 11, the stock has gained 143% year to date, including a 289% jump in just the last three months.
IonQ (IONQ 12.80%) stock posted big gains in Friday's trading. The quantum-computing company's share price closed out the daily session up 12.9%.
Shares of some of the market's hottest stocks took a big step back this week as investors reconsidered whether these stocks have run too far too fast in 2024.
Over the last two years, much of the dialogue surrounding artificial intelligence (AI) has been focused on one core type of computing hardware: graphics processing units (GPUs). The parallel processing capacities of these chips make them particularly well suited to the development and deployment of generative AI.
Investor interest in quantum computing has soared after Google's Willow announcement. Although Google has made stellar progress, I continue to believe in little-known IonQ's long-term potential. Up 170% since my investment, IonQ has had a stellar 2024 so far, with the company continuing to make technological progress ahead of schedule. Although it might take years for a versatile quantum computer to be built, IonQ has recognized the importance of monetizing its technology as is.
Rigetti Computing (RGTI) and IonQ (IONQ) stock prices have done well this year, as investors rotate to quantum computing companies. RGTI shares soared to a high of $6.87, its highest level since June 2022, and 821% higher than the year-to-date low.
IonQ (IONQ -9.82%) stock is falling in Monday's trading. The quantum-computing company's share price was down 7.9% as of 3:15 p.m.
At first glance, the stock of IonQ (IONQ 5.62%) appears to hold the potential to turn small investors into millionaires. For now, it is a comparatively small company that seems to have a competitive advantage in quantum computing.
Zacks.com users have recently been watching IonQ (IONQ) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Despite IonQ's 164.6% YTD surge, widening losses and soaring costs raise red flags. With stretched valuation and competition, investors should consider taking profits now.
IonQ unveils next-generation quantum operating system and Hybrid Services suite to advance performance and utility of quantum computing for enterprise customers.