Why IonQ (IONQ) Stock Is Up Today What Happened? Shares of quantum computing company IonQ IONQ jumped 8.6% in the afternoon session after the company received a bullish 'outperform' rating from Wedbush and announced the completion of its $1.8 billion acquisition of SkyWater Technology. Wedbush initiated its first formal coverage on the quantum computing firm, setting a price target of $75.00, which suggests significant upside from the stock's price of $36.44. Concurrently, IonQ finalized its acquisition of the U.S.-based semiconductor foundry after receiving regulatory clearance from the Federal Trade Commission. The deal aims to create a vertically integrated company, giving IonQ more direct control over its chip manufacturing. This positive news followed a period of strong performance for IonQ, which recently raised its full-year revenue outlook after a strong first quarter. What Is The Market Telling Us IonQ’s shares are extremely volatile and have had 83 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 27 days ago when the stock dropped 7.1% on the news that investor caution grew around the quantum computing sector amid high valuations and the emergence of a new competitor. The decline extended a period of weakening sentiment, as several quantum computing stocks, including IonQ, experienced significant drawdowns in the previous month. Some market commentary pointed to the sector's "extreme price-to-sales multiples," describing these stocks as highly speculative investments. Adding to the pressure, European firm IQM Quantum Computers began trading on the Nasdaq. This public listing provides investors with a new option to gain exposure to the quantum computing space, increasing competition for investment capital. IonQ is down 15.1% since the beginning of the