IONQ - Ignore IonQ: Here Are 2 Better Stocks
2023-12-31 07:17:00 ET
Quantum computing expert IonQ (NYSE: IONQ) is on a roll. The stock has gained a market-thumping 324% over the last year for reasons of mixed long-term importance. Quantum computers are starting to look useful, and there's a real business brewing there for the long term.
But IonQ's investors may have jumped aboard its bandwagon too quickly, and the stock is now dangerously overvalued . IonQ stock is changing hands at 136 times the company's trailing revenues, and all of its profitability metrics are printed in red ink. Moreover, the quantum computing field is surprisingly full of competitors, many of which have more experience and deeper pockets than this market darling.
So I would recommend leaving IonQ's stock alone for the time being. The current market offers lots of better ways to put your investible money to work until this overheated ticker cools down a bit.
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Ignore IonQ: Here Are 2 Better Stocks