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Here's Why IonQ Stock Skyrocketed Today

TheMotleyFool

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Shares of quantum-computing company IonQ (NYSE: IONQ) skyrocketed on Friday after the company released financial results for the fourth quarter of 2022. As of 11:40 a.m. ET, IonQ stock was up a whopping 31% for the day and has now nearly doubled in value year to date.

In Q4, IonQ generated revenue of $3.8 million, bringing its full-year revenue to $11.1 million. That's meager revenue for a company with a market capitalization of nearly $1.5 billion.

However, quantum computing is still a very young space. And while IonQ's revenue is still small, growth is fantastic, with 2022 revenue more than quintupling from its revenue in 2021.

Source Fool.com

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