Why dMY Technology Group III Popped 26.8% Today

Shares of dMY Technology Group III (NYSE: DMYI) jumped as much as 26.8% in trading on Wednesday after Bloomberg reported that the company is in talks to merge with IonQ, a quantum-computing company. Shares fell slightly in afternoon trading but were still up 17.4% at 2:50 p.m. EDT. 

Based on Bloomberg's reporting, IonQ could merge with dMY Technology Group III with a total valuation of about $2 billion. Silver Lake, MSD Partners, and Bill Gates' Breakthrough Energy are among the groups discussing being part of the private investment in public equity (PIPE) deal, or additional funding that's added to the company prior to the merger.

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Source Fool.com