IBM - IonQ: Pain From Its Implosion Might Not Be Over (Downgrade)
2024-05-22 12:35:33 ET
Summary
- IonQ stock has plunged deeply into a bear market, stunning IONQ shareholders.
- IonQ's bubble is likely built on potential quantum computing applications that can gain traction quickly.
- However, its "F" profitability grade suggests IonQ might not be able to sustain its business model.
- IonQ faces significant competition against profitable incumbents.
- With IONQ deeply entrenched in a downward bias, I argue why IONQ investors should sell and not fight against the market.
IonQ Stock's Bubble Has Imploded
IonQ, Inc. ( IONQ ) investors who chose to ignore IONQ stock's frothy optimism in August/September 2023 have been given a memorable lesson in investing. As a reminder, I urged investors to be cautious about IONQ in September 2023 and to closely assess the $20 resistance level, which could invite intense selling pressure. Astute sellers have capitalized on IONQ FOMO, unleashing a battering that might not have bottomed yet....
IonQ: Pain From Its Implosion Might Not Be Over (Downgrade)