IonQ: Self-Inflicted Wounds
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 fall...