Intraday Update: Highest Share Volume in PRISM NextGen Tech Index, IonQ, Inc. (IONQ) Trading ~5.7M Shares
Quantum computing company, IonQ, Inc. (IONQ) is currently trading the highest volume of shares (~5.7M) in the PRISM Emerging NextGen Tech Index and is up ~ 4.5%. IonQ is at the forefront of the quantum computing revolution and has the potential to revolutionize various industries including cryptography, materials science, drug discovery, and can address optimization problems. The company’s computers can be accessed through cloud platforms such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.
Most recently, IonQ announced that it achieved a significant milestone as it reported 29 algorithmic qubits on a barium platform for the first time. This is a key accomplishment as the company progresses in its goal of developing systems with commercial quantum capabilities. In addition to this achievement, IonQ announced a new $25.5M quantum deal with the US Airforce Research Lab. Through the expansion of this relationship the dual parties intend to deploy two barium-based trapped ion quantum computing systems for quantum networking research and application development. Next week, the company intends to announce 3Q financial results after the market closes on Wednesday, November 8th which, will be followed by a conference call at 4:30pm EST.
IonQ is currently trading ~$11.00 per share which resides around the midpoint of its 52 week high/low range ($3.04 – $21.60) with a market cap of ~2.4Bn.
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