search icon
      blog search icon

      IonQ, Inc. (IONQ) stock rises in the premarket: Let’s find out why - Stocks Telegraph

      By Muhammad Ali

      Published on

      December 16, 2021

      1:39 PM UTC

      Last Updated on

      December 16, 2021

      1:39 PM UTC

      IonQ, Inc. (IONQ) stock rises in the premarket: Let’s find out why - Stocks Telegraph

      Shares of the IonQ, Inc. (IONQ) stock were rising in the premarket today on December 16, 2021. IONQ stock price saw a push of 6.11% to reach $18.93 a share at the time of this writing. In the previous trade , IONQ stock was also green and went up by 10.81% at closing.

      For your intuition ,IonQ, Inc is the leader in quantum computing that runs its business via the development of general-purpose quantum computing systems. The stock has market cap of $3.43 billion and a 6,702,057 average trading volume. Let’s understand why this stock is bullish today.

      What’s Happening?

      IONQ stock is bullish among investors amid the recent announcement of a new appointment by IonQ, Inc. The company yesterday on December 15, 2021, announced that it has appointed Inder M. Singh to its board of directors. Singh is serving Arm as the EVP and CFO, where he is responsible for leading the global finance organization. Furthermore, he is also handling the corporate IT operations, procurement, and enterprise security teams.

      IonQ also announced a couple of more appointments recently. The company appointed Ariel Braunstein as Senior Vice President of Product Management and Dean Kassmann as the Vice President of Research and Development. Ariel worked for Fortune 100 in addition to many early startups. Dean previously served the Blue Origin as the Senior Director of advanced technology.

      Previous News of IONQ stock:

      IonQ on December 09, 2021, did announce that it is planning to use barium ions in its systems as qubits. The company believes that this step will be advantageous in the advancement of quantum computing architectures. IonQ so far built its systems by using ytterbium ions. It is the first company that has harnessed more than one atomic species as qubits. The management is keen to provide customers faster, powerful, and easily interconnected experience by using barium ions in its systems.

      Financial View of IONQ stock:

      IonQ recently announced third quarter 2021 financial results according to which

      • Revenue was $223 thousand in the third quarter of 2021.
      • As of November 15, 2021, IonQ reported $15.1 million of total contract value bookings.
      • The company suffered a net loss of $14.8 million in the third quarter of 2021.
      • Adjusted EBITDA was a loss of $7.9 million for IONQ in the third quarter of 2021.
      • The company ended the quarter with $587 million in cash and cash equivalents.

      Wrap Up:

      The sentiment is positive for IONQ stock for a couple of days in the stock market. The company is on a track to build out the IonQ ecosystem. The management is confident that the company will show positive progress in 2022.

      More From Stocks telegraph