Why IonQ Inc. (IONQ) Is Skyrocketing Today?

We recently published a list of 10 Stocks Skyrocketing Today. In this article, we are going to take a look at where IonQ Inc. (NYSE:IONQ) stands against other stocks that are skyrocketing today.

The stock market ended mixed on Wednesday, with the Dow Jones emerging as the sole decliner, as investors digested more news of tariff threats from President Donald Trump.

The Dow dropped by 0.20 percent, while the S&P 500 and Nasdaq clocked in gains of 0.49 percent and 1.22 percent, respectively.

Meanwhile, 10 companies, predominantly those riding the AI wave, were touted as investors’ haven, clocking in gains during a cautious trading session.

In this article, we have identified the 10 strongest firms on Wednesday and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in trading volume.

A quantum computer on a countertop in an engineering laboratory with a technician at work.

IonQ Inc. (NYSE:IONQ)

IonQ shares soared by 16.68 percent on Wednesday to finish at $21.82 apiece as investor sentiment was fueled by news that Rakuten Securities gobbled up worth $3.7 million shares in the company, signaling the brokerage firm’s confidence in the company.

In a regulatory filing, Rakuten Securities said it bought 90,000 IONQ shares. The purchase represented 1.5 percent of its total shareholdings and its ninth largest investment so far.

Additionally, investors also gobbled up shares after its subsidiary ID Quantique expanded IONQ’s owned or controlled patent portfolio by nearly 250 patents, pushing its total patents to almost 400.

“Our extensive patent portfolio in quantum networking technologies, paired with our consistent delivery and outperformance of quantum networking technological and business milestones, enables new market opportunities to help our customers solve problems unsolvable with current technologies,” said IONQ CEO Niccolo de Masi.

Overall, IONQ ranks 1st on our list of stocks that are skyrocketing today. While we acknowledge the potential of IONQ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IONQ but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.