These 10 Firms Took A Hit on Friday

4. IonQ Inc. (NYSE:IONQ)

Shares of IonQ Inc. (IONQ) dropped 6.42% on Friday, closing at $38.89, as investors seemingly reallocated their portfolios in favor of sectors offering higher potential returns.

IonQ (IONQ)’s decline mirrored the decrease in share prices of its peers such as Rigetti Computing Inc. which fell 12.54 percent, and D-Wave Quantum Inc., which lost 9.22 percent.

In other news, it can be recalled that quantum computing stocks took a beating over the past few weeks following bearish statements from chief executives Jensen Huang of Nvidia Corp. and Mark Zuckerberg of Meta Platforms that the practical use of quantum computers will only be felt 15 to 30 years away.

However, the Nvidia chief said that he thinks the AI chipmaker will play a significant role in the development of quantum computers, and push it toward getting there as fast as possible.