IonQ (IONQ) Climbs 7.38% as US Pension Fund Raises Exposure to Quantum Computing

We recently published Wall Street Shockers: 10 Stocks on Fire. IonQ, Inc. (NYSE:IONQ) is one of the best-performing stocks on Monday.

IonQ grew its share prices by 7.38 percent on Monday to close at $44.94 apiece as investor sentiment was bolstered by news that a huge public pension fund in the US increased its exposure to quantum computing stocks as part of its portfolio rebalancing.

According to reports over the weekend, the New Jersey State Pension Fund divested its stake in Alibaba Group Holding Ltd. (BABA) and gobbled up shares in quantum computing stocks, namely IonQ, Inc. (NYSE:IONQ), D-Wave Quantum Inc. (NYSE:QBTS), and Rigetti Computing Inc. (NASDAQ:RGTI).

The move sparked buying appetite across the quantum computing sector, given the fund’s reputation as one of the largest fund management agencies in the US.

IonQ (IONQ) Climbs 7.38% as US Pension Fund Raises Exposure to Quantum Computing

In other news, IonQ, Inc. (NYSE:IONQ) filed for a prospectus on behalf of several existing shareholders for the sale of more than 13 million IONQ common shares.

IonQ, Inc. (NYSE:IONQ) said it will not receive any proceeds from the proposed sale.

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