Why IonQ Stock Is Falling Today
IonQ (NYSE: IONQ) stock has been on a roller-coaster ride so far in Thursday trading. After rising by as much as 13% early, the quantum-computing company's share price was down by 1.3% as of 12:30 p.m. ET. Meanwhile, the S 500 and Nasdaq Composite indexes were both up 0.2%.
IonQ stock initially gained ground following bullish coverage from DA Davidson. However, the stock has been highly volatile amid the market's response to Wednesday's interest rate news from the Federal Reserve, and IonQ shares have been down by as much as 2.8% in the session.
Before the market opened Thursday, DA Davidson published a note initiating coverage on IonQ stock with a buy rating. The firm's analysts assigned a one-year price target of $50 per share on the stock. As of this writing, that would imply upside of around 35%.
Source Fool.com
