IonQ (NYSE: IONQ) has been a divisive stock ever since it went public by merging with a special purpose acquisition company (SPAC) on Oct. 1, 2021. The bulls saw it as a promising play on the nascent quantum computing market, while the bears saw an overvalued company that was barely generating any revenues.

IonQ's stock opened at $10.60 after its merger and nearly tripled to its all-time high of $31 on Nov. 17. But today, the stock trades at about $8. Like many other speculative tech stocks, IonQ lost its luster as rising rates highlighted its losses and compressed its valuations. It also broadly missed its own pre-merger estimates.

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Source Fool.com