Editor’s note: This article was updated on Oct. 4 to clarify the number of qubits in IonQ’s quantum computer.
Today, investors in early stage quantum computing company IonQ (NYSE:IONQ) have seen a rough start to trading. Currently down 10% on its inaugural day, IONQ stock is the latest in a string of SPACs (special purpose acquisition companies) to go public.
Today marks the first day of trading for IONQ stock, following the company’s reverse merger with dMY Technology Group. This merger has been highly anticipated and one many investors have been watching throughout this morning.
This rough start to trading appears to be the result of a combination of weak sentiment and concerns around the timing of IonQ’s move to public markets. Indeed, quantum computing is a red-hot sector. And it’s likely to remain red-hot for some time. However, concerns around how soon IonQ has come to market relative to when this company will be able to commercialize its products appears to be a key driver of investor apathy today.
That said, let’s dive into a few things investors may want to know about IonQ.
What Investors Should Know About IONQ Stock
- IonQ believes that “Quantum computing has the potential to change the world, and IonQ is leading the way.”
- This company’s main product is a 32-qubit quantum computer, which is sold via a range of channels. This computer contains 22 algorithmic qubits, a metric developed by IonQ.
- The company’s goal is to bring quantum computing out of the lab and into consumers’ hands.
- IonQ is the first publicly traded pure-play quantum computing company.
- This SPAC merger provided IonQ with $636 million in growth proceeds.
- Accordingly, the company expects to use these funds to accelerate its growth and commercialization of its products.
- Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) served as the financial advisors on this deal.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.