IONQ - Why IonQ Stock Is Skyrocketing This Week
2023-06-30 10:31:10 ET
IonQ (NYSE: IONQ) stock is making big gains this week following news that it has signed a new deal with a ministry of South Korea's government. The quantum computing specialist's share price had climbed roughly 55% from last week's market close as of 10:15 a.m. ET Friday, according to data from S&P Global Market Intelligence .
IonQ published a press release on June 29 announcing that it had entered into a preliminary agreement to provide education services to technology workers at South Korea's Ministry of Science and ICT (Information and Communications Technology). The preliminary agreement was signed on June 27, and IonQ stock started making big gains before the agreement was widely announced.
Investors are interpreting the agreement to provide education and training services to South Korea's Ministry of Science and ICT (MSIT) as a significant vote of confidence in IonQ's position in quantum technologies. Per the terms of the preliminary agreement, IonQ will use its expertise and resources to support masters, doctoral students and postdoctoral researchers, and help promote the development of the quantum computing industry in South Korea.
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Why IonQ Stock Is Skyrocketing This Week