Key Points - IonQ’s stock has more than quadrupled since its market debut. - It’s still one of the best pure plays on the nascent quantum computing market. IonQ(NYSE: IONQ), an early mover in the nascent quantum computing market, went public through a merger with a special purpose acquisition company (SPAC) on Oct. 1, 2021. Its stock started trading at $10.60, experienced wild swings, and now trades at about $43. Let's see why IonQ's stock more than quadrupled, and if it can maintain that momentum. Missed Nvidia in 2009? This Rare Signal Is Flashing Again.In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Why did IonQ's stock soar? Quantum computers can process certain tasks much faster than classical computers, but they're also bigger, pricer, consume more power, and output a higher percentage of errors. But as these systems become smaller, more efficient, and more accurate, they can be used for a wider range of mainstream computing applications instead of niche government and research projects. Unlike older quantum systems, which accelerate electrons through superconducting loops to achieve a quantum state, IonQ traps and manipulates individual ions with tiny lasers. That ion-powered process generally has a higher gate fidelity (accuracy) than older electron-based systems, and it doesn't require the entire quantum system to be cryogenically cooled. Those improvements helped IonQ secure more commercial and government contracts. The rapid growth of its government business also prompted it to create a new unit, IonQ Federal, to handle all of those contracts last year. IonQ has launched four quantum systems to date, which it sells and leases to research institutions. Still, most of its revenue comes from its