IonQ (IONQ) Ends 5-Day Gain on Bubble Concerns

We recently published 10 Stocks Taking a Nosedive. IonQ Inc. (NYSE:IONQ) is one of the worst performers on Wednesday.

IonQ snapped a five-day winning streak on Wednesday, shedding 6.22 percent to close at $74.30 apiece amid concerns of a quantum computing bubble, while investors took profits from the previous days’ gains.

In the past month and year alone, IonQ Inc. (NYSE:IONQ) has already jumped by whopping 81 and 678 percent, respectively, and analysts are posting concerns about their steep valuations.

According to analysts, the rapid increase is showing signs that the quantum computing industry is already forming a bubble.

In other developments, IonQ Inc. (NYSE:IONQ) announced that it has successfully completed the acquisition of Vector Atomic in an all-stock transaction.

According to IonQ Inc. (NYSE:IONQ), the acquisition significantly expands and rounds out its quantum technology platform by adding the world’s most advanced precision atomic clocks, inertial sensors, and synchronization hardware to its industry-leading computing and networking stack.

“The acquisition of Vector Atomic marks an exciting expansion for IonQ as we advance toward fully integrated quantum systems that deliver real-world impact across multiple industries,” said Chairman and CEO Niccolo de Masi.

“This acquisition broadens and deepens our full-stack quantum industry leadership by adding world-class, field-deployed sensing capabilities to our existing quantum computing and quantum networking solutions.”

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