Evidently, some U.S. politicians are prioritizing domestic tech production and that’s good news for IonQ (NYSE:IONQ). A fresh news report revealed that IonQ plans to build the United States’ first quantum computing manufacturing facility. This could be a historic moment. Now, IONQ stock investors are definitely in a buying mood today.
IonQ is a quantum-computing business listed on the New York Stock Exchange. There aren’t very many of those, so financial traders can gain pure-play access to the U.S. quantum-computing market through shares of IONQ stock.
IONQ stock was a poor performer last year, but today it’s getting a boost. That’s because the company announced plans to open the “first known dedicated quantum computing manufacturing facility in the U.S.” The facility will be located in Seattle, WA.
This manufacturing facility could be part of something much bigger for IonQ. Over the next decade, the company intends to “invest $1 billion through expansion in the Pacific Northwest.”
What’s Happening with IONQ Stock?
Early in today’s trading session, IONQ stock rallied 8%. In fact, it seemed like shares could actually approach the crucial $5 level. However, the stock lost some ground later on, while still remaining firmly in the green. IONQ is up nearly 6% as of this writing.
There’s no doubt that the planned manufacturing facility could provide a significant revenue source for IonQ. There are also broader implications to consider, however.
The passage of the the CHIPS and Science Act demonstrated the U.S. government’s support of domestic tech-component production. In that vein, a Congressional delegation from the state of Washington is expressing support for IonQ’s planned U.S.-based quantum computing manufacturing facility.
The delegation includes U.S. Senator Patty Murray and Congresswoman Suzan DelBene, U.S. representative from Washington state’s 1st congressional district. Murray said the company’s planned facility “will absolutely help ensure Washington state continues to be a leader in innovation and cutting-edge technologies.”
Thus, there are implications for the company and industry on both the local and national levels. Plus, there has evidently been a positive impact on the IONQ stock price today. Investors can enjoy a day of solid gains.
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On the date of publication, David Moadel did not hold (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.