Why IonQ Stock Is Crushing It Today

IonQ (NYSE: IONQ) stock was crushing it on Friday, shares soaring 17.6% at 10:33 a.m. ET. The big gain came after the company announced that the U.K. Investment Security Unit had cleared the way for the acquisition of Oxford Ionics.

All conditions needed for IonQ's acquisition of Oxford Ionics to be finalized have now been met. The quantum computing pioneer said that it "looks forward to closing the deal in the near term."

Mergers and acquisitions don't always move the needle very much for the initiating company. Why does the Oxford Ionics acquisition matter so much for IonQ? The deal is critical for IonQ to fulfill its ambitious product roadmap.

Source Fool.com