RIVN - IonQ: Departure Of Co-Founders Is A Very Negative Development (Rating Downgrade)
2024-03-26 00:52:37 ET
Summary
- IONQ's share price has fallen back to around $9 after reaching a high of $21.60, but I am revising my rating from buy to hold.
- Financials show revenue growth of 60% YoY but flat sequentially, with bookings exceeding guidance for FY23.
- Negative developments include the departure of both co-founders, raising doubts about future technological advancements and profitability.