NYSE: IONQ
Key Data Points
IonQ (IONQ +9.27%), a quantum computing developer, closed Wednesday at $43.25, up 20.95%. The stock jumped after a slew of positive announcements, including a new government contract and a technical breakthrough.
Trading volume reached 85.2 million shares, about 285% above its three-month average of 22.1 million shares. IonQ IPO'd in 2021 and has grown 288% since going public.
How the markets moved today
The S&P 500 (^GSPC +1.18%) rose 0.80% to 7,023, while the Nasdaq Composite (^IXIC +2.07%) added 1.59% to finish at 24,016. Among quantum computing peers, Rigetti Computing (RGTI +5.86%) gained 13.28% to close at $19.11, and D-Wave Quantum (QBTS +4.75%) closed up 22.63% at $20.81, showing broad sector strength.
What this means for investors
IonQ keeps going up. Today’s gains put it up almost 50% in the past week. One major tailwind is news that it secured a contract to support the U.S. Defense Advanced Research Projects Agency (DARPA) in a program that seeks to improve the design and scalability of quantum computing systems.
The company also said it had succeeded in linking two remote quantum systems, which is a major breakthrough. Its announcements come against a backdrop of quantum computing optimism, after Nvidia (NVDA +1.30%) launched a quantum-focused artificial intelligence (AI) model.
IonQ will report its Q1 earnings on May 6, and investors will be watching to see how its recent wins translate into future revenue.
