What Happened?

Shares of quantum computing company IonQ (NYSE: IONQ) jumped 2.4% in the morning session after the company announced an expanded agreement with Switzerland's QuantumBasel worth over $60 million. 

The extended contract granted QuantumBasel ownership of its existing IonQ Forte Enterprise system and secured a next-generation Tempo system. This deal extended IonQ's on-site presence at the innovation campus through 2029, reinforcing its role as IonQ's European Innovation Center. Adding to the positive news, the company also entered a strategic collaboration with CCRM and CCRM Nordic. This separate partnership was designed to speed up innovation in the field of advanced therapies by applying quantum computing technologies, and included an initial investment commitment by IonQ to support joint projects.

After the initial pop the shares cooled down to $47.19, up 2.8% from previous close.

Is now the time to buy IonQ? Access our full analysis report here.

What Is The Market Telling Us

IonQ’s shares are extremely volatile and have had 99 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 gained 4.8% on the news that Jefferies initiated coverage on the company with a 'Buy' rating and set a price target of $100. 

The positive assessment came from Jefferies analyst Kevin Garrigan and marked a significant endorsement of the quantum computing company's potential. A new 'Buy' rating from a major Wall Street firm often attracts investor attention and can boost confidence in a stock's future performance. The firm's price target suggested a strong belief in IonQ's prospects within its sector.

IonQ is up 9.5% since the beginning of the year, but at $47.19 per share, it is still trading 42.5% below its 52-week high of $82.09 from October 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 $4,369.

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