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Is IonQ Stock a Buy?

TheMotleyFool

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IonQ (NYSE: IONQ) has taken its investors on a wild ride over the past three years. The quantum computing startup went public by merging with a special purpose acquisition company (SPAC) on Oct. 1, 2021, and its stock opened at $10.60 on the first day. It soared as high as $31 the following month but sank to about $3 by December 2022.

Like many other SPAC-backed startups, IonQ disappointed its investors by missing its premerger targets and racked up steep losses. The departure of its cofounder and chief scientist and troubling allegations from a prolific short-seller raised more red flags.

Image source: Getty Images.

Source Fool.com

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