IONQ - Why IonQ Stock Dropped 21% This Week
2023-10-26 18:01:27 ET
Shares of IonQ (NYSE: IONQ) are down 21.2% this week as of Thursday's close, according to data provided by S&P Global Market Intelligence , driven by a combination of broader-market weakness and concerns over the departure of a key executive.
On the former, it certainly didn't help that the broader markets turned lower in recent days. The S&P 500 Index and Nasdaq Composite have each pulled back more than 3% this week as of this writing, serving as a headwind for richly valued growth stocks like IonQ.
Still, IonQ's decline this week accelerated on Tuesday when the quantum computing leader announced the departure of company co-founder and Chief Science Officer Dr. Chris Monroe. As Gilhuly Family Distinguished Presidential Professor of Physics and Electrical Computer Engineering at Duke University, Dr. Monroe is returning to his previous academic, research, and policy pursuits.
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Why IonQ Stock Dropped 21% This Week