Why IonQ Stock Soared 58% in November
Shares of IonQ (NYSE: IONQ) surged 58.4% in November, according to data from S&P Global Market Intelligence. This compares with the S&P 500 index's 0.8% decline last month. The primary catalyst for the quantum computing company's stock was management raising its full-year contract bookings guidance again.
Quantum computing, according to a definition by tech giant IBM, is "a rapidly emerging technology that harnesses the laws of quantum mechanics to solve problems too complex for classical computers."
This month, IonQ stock has pulled back 12% through Dec. 8. Since the company went public on Oct. 1 via a special purpose acquisition company (SPAC), its stock has risen 102% as of Dec. 8. The S&P 500 has returned 9.4% over this period.
Source Fool.com
