Why Did IonQ Stock Tumble 14% in June?
Shares of IonQ (NYSE: IONQ) fell 13.7% last month, according to data provided by S&P Global Market Intelligence. The quantum computing stock moved lower as headlines touted potential competitors and investors adjusted their interest rate expectations. There were virtually no changes to analyst forecasts and recommendations during the month, but some investors clearly recalibrated their risk appetite and sold shares.
IonQ is an expensive growth stock that's prone to large price swings. That volatility is quantifiable -- the stock's beta is high at 2.26. That can translate to large potential moves without meaningful news.
Nvidia made headlines last month with reports that it was accelerating quantum computing operations. That development doesn't directly impact IonQ, but reminds shareholders about potential risks.
Source Fool.com
