IONQ - Ionq shares plunge 14% as Goldman takes cautious view of quantum computing

Quantum computing developer Ionq (NYSE:IONQ) tumbled more than 14%, Monday, as Goldman Sachs analyst Toshiya Hari started coverage with a neutral rating and some cautious comments about the company's prospects. Hari set a $28-a-share price target on Ionq's (IONQ) shares, saying that the company is early in the "nascent quantum computing market," but that market also comes with its share of questions that may take time to answer. "There is a high level of uncertainty around widespread adoption [and] commercialization of quantum computing and which forms of quantum computer ultimately captures market share," Hari said. Hari added that his view of Ionq (IONQ) could turn more positive, but there needs to be more visibility on matters such as the company's technological roadmap and how quickly businesses start adding quantum computing into their operations. Reaction on Wall Street was rapid, as more than 6 million shares of Ionq (IONQ) stock traded hands

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Ionq shares plunge 14% as Goldman takes cautious view of quantum computing