8 Most Active US Stocks To Buy Now

6. IONQ Inc. (NYSE:IONQ)

Volume: 45.056 million

Average Volume (3-Month): 5.148 million

Number of Hedge Fund Holders: 12

IONQ Inc. (NYSE:IONQ)  is focused on building the world’s most powerful and commercially useful quantum computers. It’s a leader in quantum computing, a technology that leverages quantum mechanics to solve complex problems. The goal is to improve the accuracy and performance of its quantum systems by increasing the fidelity of its qubits. By enhancing the fidelity of its barium qubits, the company aims to reduce errors and develop commercially viable quantum solutions.

Craig-Hallum Capital Group emphasized that the company’s recent technical advancements in gate fidelities and error correction, while not immediately understandable to many investors, are crucial metrics in the quantum computing industry. Despite the challenges, the company has consistently met its targets since going public, demonstrating its ability to deliver on its promises.

It has achieved significant milestones in the commercial sector. The company secured a major contract with ARLIS, a part of the US national security apparatus. Through innovations like new error-correction techniques and ongoing improvements in qubit fidelity, it is confident in achieving key milestones in quantum computing by 2025. In the second quarter of 2024, IONQ Inc. (NYSE:IONQ) was able to make $11.38 million in revenue, up a massive 106.36% from the year-ago period, outperforming Street estimates by almost $2.75 million.

The company has demonstrated strong growth potential, with revenue expected to reach between $38 million and $42 million by the end of 2024. Its strategic partnerships, including the recent expansion of its contract with AWS, position it well for future success in the commercialization of quantum computing.