We recently published a list of 10 Stocks Bolstered by Broader Market Cheer. In this article, we are going to take a look at where IonQ Inc. (NYSE:IONQ) stands against other stocks that bolstered by broader market cheer.
The stock market bounced back from hefty losses on Wednesday, with all Wall Street indices finishing in the green territory after President Donald Trump announced that the US would pause the imposition of higher tariffs on 75 countries for 90 days.
In a post on Truth Social, Trump said that more than 75 countries have called to negotiate and have not retaliated in any way.
“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” he noted.
Following the announcement, the Dow Jones jumped by 7.87 percent, the S&P 500 surged by 9.52 percent, and the tech-heavy Nasdaq soared by 12.16 percent.
Indices aside, 10 companies led the charge, predominantly those with a high international trade exposure.
In this article, we listed Wednesday’s 10 best-performing stocks and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with $2 billion 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)
Shares of IonQ Inc. soared by 23.92 percent on Wednesday to end at $26.37 apiece as investors cheered announcements that it was one of the companies tapped by the Department of Defense to explore the possibility of building a useful quantum computer that can achieve utility-scale operation.
Under the program, IONQ and its 14 counterparts will work with the Defense Advanced Research Projects Agency (DARPA) to scale their technology toward creating a utility-scale quantum computer.
According to DARPA QBI program manager Joe Altepeter, the companies will provide “comprehensive technical details of their concepts to show that they hold water and could plausibly lead to a transformative, fault-tolerant quantum computer in under 10 years.”
Companies that successfully complete the first stage will move to a yearlong stage B, during which DARPA will analyze their research and development approach.
A final stage will follow, where the QBI independent verification and validation (IV&V) team will test the firms’ computer hardware.
Overall, IONQ ranks 10th on our list of stocks that bolstered by broader market cheer. While we acknowledge the potential of IONQ as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than IONQ but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
