Why IonQ, Inc. (IONQ) Went Down On Thursday

We recently published a list of Traders Ditched These 10 Stocks. Here’s Why. In this article, we are going to take a look at where IonQ, Inc. (NYSE:IONQ) stands against other worst-performing stocks.

IonQ Inc. declined by 9.17 percent on Thursday to end at $43.20 each as traders sold off positions following an analyst’s pessimistic comments about the company.

In the recent episode of Mad Money, host and former hedge fund manager Jim Cramer said that shares of IonQ, Inc. (NYSE:IONQ) were “too speculative.”

“It’s so high and it’s losing so much money, but it’s quantum. If I offer you a considered explanation of why I think that stock’s too expensive, most people ignore it, so all I’m going to say is it’s too speculative for me,” he said.

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

“But frankly, I’m going to use the word chimerical in the sense that these companies—none of these companies—have much in terms of revenue. Except for IonQ.”

For his part, IonQ, Inc. (NYSE:IONQ) CEO Niccolo de Masi believed that the firm “will be the Nvidia player”  of the quantum computing sector.

“I believe IonQ will be the Nvidia player. There will be other people who copy us and follow us; they have always copied and followed us,” he said.

Overall, IONQ ranks 2nd on our list of worst-performing stocks. While we acknowledge the potential of IONQ, 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 this cheapest 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.