IonQ (IONQ) Drops 6.7% on Lack of Catalyst

We recently published Bloodbath on the Street: These 10 Stocks Crashed Hard. IonQ, Inc. (NYSE:IONQ) is one of the worst-performing stocks on Wednesday.

IonQ saw its share prices drop by 6.73 percent on Wednesday to close at $38.11 apiece amid the lack of fresh catalyst to boost buying appetite.

On Wednesday, IonQ, Inc. (NYSE:IONQ) announced a new study in partnership with the University of Washington, which, using its Forte Enterprise quantum system, observed in real-time what is known as a “lepton-number violation,” a phenomenon never directly simulated before on a quantum computer.

According to providing IonQ, Inc. (NYSE:IONQ), the study further evidenced that quantum computers may be able to model fundamental physics processes beyond the reach of classical systems.

IonQ (IONQ) Drops 6.7% on Lack of Catalyst

A quantum computer on a countertop in an engineering laboratory with a technician at work.

The study, however, did not seem to impress the investing public.

IonQ, Inc. (NYSE:IONQ) traded lower in line with its peers, namely D-Wave Systems, Rigetti Computing, and Quantum Computing Inc.

While we acknowledge the potential of IONQ as an investment, 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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

Disclosure: None. This article is originally published at Insider Monkey.