What Happened?
Shares of quantum computing company IonQ (NYSE: IONQ) jumped 3.1% in the afternoon session after the company announced a significant technological breakthrough, while the broader quantum computing sector received a boost from a major investment.
IonQ revealed a breakthrough in creating high-quality, quantum-grade diamond films in collaboration with Element Six, a De Beers Group company. This advancement allows key components for quantum networks to be made using standard semiconductor manufacturing, which is expected to accelerate the production of scalable, fault-tolerant quantum systems.
After the initial pop the shares cooled down to $41.97, up 2.5% from previous close.
Is now the time to buy IonQ? Access our full analysis report here, it’s free.
What Is The Market Telling Us
IonQ’s shares are extremely volatile and have had 103 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 2 days ago when the stock dropped 1.9% on the news that the stock was caught in a broader market sell-off driven by rising Treasury yields that heavily impacted technology stocks. Investors also reacted to a federal court ruling that most of President Trump's global tariffs were illegal, raising uncertainty over trade policy and the fiscal impact of potential refunds. Rising Treasury yields added to the pressure, with the 10-year climbing above 4.2% and the 30-year nearing 5%, intensifying worries about stretched equity valuations. September's historically weak track record for stocks further dampened sentiment, leaving traders cautious ahead of the jobs report later in the week and the Federal Reserve's upcoming rate decision.
IonQ is down 2.6% since the beginning of the year, and at $41.97 per share, it is trading 17.8% below its 52-week high of $51.07 from January 2025. Investors who bought $1,000 worth of IonQ’s shares at the IPO in January 2021 would now be looking at an investment worth $3,886.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.
