10 Stocks with Surprising Gains

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1. IonQ, Inc. (NYSE:IONQ)

Shares of IonQ propelled to a new record high on Friday following news that it officially secured the green light of the UK government for its $1 billion acquisition of Oxford Ionics.

At intra-day trading, the stock soared to its highest 52-week price of $56.07 before trimming gains to end the day just up by 18.19 percent at $55.61 each.

Having satisfied all regulatory requirements and secured the approval, IonQ, Inc. (NYSE:IONQ) said it was looking forward to closing the deal in the near term.

IonQ, Inc. (NYSE:IONQ) announced the merger plan with Oxford Ionics in June, saying that the move was in line with its plans to expand its research expertise in the quantum computing sector.

Oxford Ionics’ work is focused on novel methods of controlling qubits, the fundamental unit of quantum computers that much of modern quantum research is centered on. Its founders, Chris Balance and Tom Harty, will remain with IonQ, Inc. (NYSE:IONQ) following the completion of the merger.

IonQ, Inc. (NYSE:IONQ) will acquire the company in a mix of cash and stock transaction, with the number of shares depending on its stock price over a 20-day period before the deal closes.

While we acknowledge the potential of IONQ to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IONQ and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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