ENVX - IonQ: Requires A Quantum Leap To Be A Success (Rating Downgrade)

2024-06-26 11:52:13 ET

Summary

• IonQ, Inc.'s business is currently far from scalable, making its high valuation potentially unjustified.
• Despite the captivating narrative, IonQ faces significant risks and uncertainties.
• The company is expected to burn through cash rapidly, potentially needing to raise additional funds by 2026.

Investment Thesis

IonQ, Inc. ( IONQ ) is a venture-like business. It has such a wonderful story that truly bedazzles investors. But beyond the surface, its prospects rapidly become murky, uncertain, and possibly perilous....

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