What Sent IonQ Shares Surging and Whether the Momentum Can Last
The quantum computing stock could head even higher over the next few years.
Overview
IonQ (NYSE: IONQ), an early mover in the nascent quantum computing market, went public through a merger with a special purpose acquisition company (SPAC) on Oct. 1, 2021. Its stock started trading at $10.60, experienced wild swings, and now trades at about $43. Let's see why IonQ's stock more than quadrupled, and if it can maintain that momentum.
Image source: Getty Images.
Quantum computers can process certain tasks much faster than classical computers, but they're also bigger, pricer, consume more power, and output a higher percentage of errors. But as these systems become smaller, more efficient, and more accurate, they can be used for a wider range of mainstream computing applications instead of niche government and research projects.
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Originally published at www.fool.com.