IONQ - Here's Why IonQ Stock Skyrocketed Today
2023-03-31 14:03:12 ET
Shares of quantum-computing company IonQ (NYSE: IONQ) skyrocketed on Friday after the company released financial results for the fourth quarter of 2022. As of 11:40 a.m. ET, IonQ stock was up a whopping 31% for the day and has now nearly doubled in value year to date.
In Q4, IonQ generated revenue of $3.8 million, bringing its full-year revenue to $11.1 million. That's meager revenue for a company with a market capitalization of nearly $1.5 billion.
However, quantum computing is still a very young space. And while IonQ's revenue is still small, growth is fantastic, with 2022 revenue more than quintupling from its revenue in 2021.
For further details see:
Here's Why IonQ Stock Skyrocketed Today