Why Quantum Stock IonQ Soared 56.5% In April
Shares of quantum computing provider IonQ (NYSE: IONQ) jumped 56.5% in April, according to data from S&P Global Market Intelligence. As a quantum computing research lab, the company has little of a business model today, but it recently won a research contract and expects strong revenue growth this year. It remains unprofitable.
Here's why IonQ stock rocketed higher in April, and what investors should do from here.
The catalyst for IonQ's soaring stock price in April was an announcement that DARPA (the Defense Research Agency) had awarded IonQ a contract for its quantum computing research program. Along with its Air Force research, IonQ is working hard to secure government research funding for this potentially revolutionary computing technology. In the days following the announcement, IonQ's stock began to soar.
Source Fool.com
