Why IonQ Stock Skyrocketed Today
IonQ (NYSE: IONQ) stock posted huge gains in Friday's trading. The quantum computing company's share price closed out the daily trading session up 17.6%.
IonQ stock saw strong bullish momentum in Friday's trading following new bullish coverage from Craig-Hallum. The investment firm maintained a buy rating on the quantum computing stock and raised its one-year price target on the stock from $22 per share to $45 per share.
While Craig-Hallum acknowledged risk on the heels of the recent valuation surge that IonQ has seen in conjunction with meme stock momentum and rising interest from retail traders, the firm's analysts believe that the company's current market cap offers potential upside. Craig-Hallum said that quantum-computing specialists have opportunities to disrupt corners of the traditional computing market -- opening the door for massive growth in the process.
Source Fool.com
