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IonQ: Self-Inflicted Wounds

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  • IonQ continues to decline due to fading quantum computing hype and self-inflicted setbacks, despite impressive revenue growth from 2023 levels.
  • The company guided to sequentially lower Q1 revenue and stopped reporting bookings, raising doubts about its ambitious $1 billion sales goal by 2030.
  • CEO Peter Chapman's move to Executive Chairman and the decision to raise another $500 million have further shaken investor confidence.
  • The stock still trades at a very expensive 65x forward sales.
  • Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios. Learn More »
IonQ, Inc. (NYSE:IONQ) continues to roll over as the quantum computing hype fades. Along with the Q4 earnings report, the company made several moves that were self-inflicted as far as reducing the hype. My investment thesis remains ultra-Bearish on the stock due to the massive valuation multiples, even after the stock has already fallen over 50% from the highs.


Read the full article on Seeking Alpha. 

Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

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