IONQ - Why IonQ Stock Soared 58% in November
Shares of IonQ (NYSE: IONQ) surged 58.4% in November, according to data from S&P Global Market Intelligence . This compares with the S&P 500 index's 0.8% decline last month. The primary catalyst for the quantum computing company's stock was management raising its full-year contract bookings guidance again.
Quantum computing, according to a definition by tech giant IBM , is "a rapidly emerging technology that harnesses the laws of quantum mechanics to solve problems too complex for classical computers."
This month, IonQ stock has pulled back 12% through Dec. 8. Since the company went public on Oct. 1 via a special purpose acquisition company ( SPAC ), its stock has risen 102% as of Dec. 8. The S&P 500 has returned 9.4% over this period.
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Why IonQ Stock Soared 58% in November