IONQ - Why IonQ Stock Jumped 27% in November
2023-12-04 17:39:02 ET
Shares of quantum-computing company IonQ (NYSE: IONQ) jumped 26.9% in November, according to data provided by S&P Global Market Intelligence . On Nov. 8, the company shared financial results for the third quarter of 2023, which provided the bulk of its gains for the month.
IonQ is one of the fastest-growing companies in the world and was recognized as such in November. On Nov. 8, the company said it snagged the 32nd spot on the 2023 Deloitte Technology Fast 500 list. Many investors are excited about growth stocks of this caliber.
In Q3, IonQ's revenue was up 122% year over year, showing why it was named as one the best companies for growth. Granted, this is triple-digit growth from a small starting point -- Q3 revenue was just $6.1 million. But the company is showing promising signs of successfully commercializing its quantum-computing technology .
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Why IonQ Stock Jumped 27% in November