10 Firms Drop on Bearish Statements, Disappointing Earnings

3. IonQ Inc. (IONQ)

IonQ (IONQ) shares, alongside its quantum computing peers, tanked by 13.85 percent on Monday to close at $27.86 each as investor sentiment was weighed down by Meta Platforms CEO Mark Zuckerberg’s not-so-optimistic statement on quantum computers.

Zuckerberg joined Nvidia Corp. CEO Jensen Huang in having a more conservative outlook for quantum computing stocks. The statements indicated that quantum computing shares’ current valuations are currently overvalued.

“I’m not really an expert on quantum computing, but my understanding is that’s still quite a ways off from being a very useful paradigm,” he said during an appearance on Joe Rogan’s podcast published on Friday, adding that many people think the technology is likely a “decade plus out.”