10 Stocks Kick Off Trading Week With Losses

3. IonQ, Inc. (NYSE:IONQ)

IonQ, Inc. (NYSE:IONQ) fell for a second day on Tuesday, losing 9.4 percent to finish at $33.94 apiece as investors feared news of growing competition in the quantum computing industry, particularly with the advancements of Chinese players such as Origin Quantum Computing.

According to reports on Tuesday, Origin Quantum Computing created a prototype machine that features 72 working qubits, higher than the 64-working qubits machine that IONQ was gearing up to launch this year.

The report added that the Chinese company’s prototype machine received over 20 million remote visits and was accessed by researchers from 139 countries.

IONQ is also set to make a huge leap in developing and launching a 256-qubit system this year but is now hanging in the balance of high expectations.