Why IonQ Stock Popped Today

IonQ (NYSE: IONQ) stock jumped 8.6% through 3:25 p.m. ET Monday after investment bank Wedbush assumed coverage of the stock with an outperform rating, and assigned the $40 stock a $75 price target -- basically predicting a double in 12 months.Image source: Getty Images.Valued at $13.6 billion in market capitalization, IonQ is by this measure one of the most richly priced quantum computing stocks -- but Wedbush thinks IonQ is worth the premium. With $187 million in trailing revenue, IonQ's business is about 15x bigger than its nearest rival among the pure-play quantum computing stocks. With $2 billion in the bank, it's also the best-funded. Finally, IonQ is the only one of these pure plays on quantum computing to own its own chip foundry, SkyWater, which IonQ brought in-house last month. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool