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Why Is IonQ (IONQ) Stock Down 12% Today?

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  • IonQ (IONQ) stock is falling on news of its CSO departing.
  • Dr. Chris Monroe, also a co-founder of the company, is leaving to return to academic research.
  • This has IONQ stock down as he’s been a leading force at the company since its creation.
IONQ Stock - Why Is IonQ (IONQ) Stock Down 12% Today?

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IonQ (NYSE:IONQ) stock is taking a beating on Tuesday after the quantum computing systems company announced the departure of its Chief Science Officer (CSO).

According to a press release from the company, Dr. Chris Monroe, one of its co-founders and current CSO, is departing from IonQ. This will see him return to his academic pursuits as the Gilhuly Family Distinguished Presidential Professor of Physics and Electrical Computer Engineering at Duke University.

Monroe said the following about leaving IonQ in a news release:

“It has been a privilege to work alongside so many exceptionally talented engineers and scientists. We have brought forward several first-in-class quantum technologies, culminating in a clear roadmap that is poised to drive commercial advantage in the future. I’m proud of what we’ve accomplished so far and want to thank everyone at IonQ.”

How This Affects IONQ Stock

It makes sense that IONQ stock is falling today with the departure of its CSO. Monroe has been a mainstay at the company since it was founded in 2015. His role in its creation and time in leadership may also leave investors wondering who could replace him.

IONQ stock is down 12% as of Tuesday morning. That comes as more than 2 million shares of the stock change hands. This is still below its daily average trading volume of roughly 12 million shares.

Investors who are looking for more of the most recent stock market stories today will want to stick around!

We’re offering up coverage of all the hottest stock market news for Tuesday! That includes everything happening with shares of LumiraDx (NASDAQ:LMDX) stock, Aerwins Technologies (NASDAQ:AWIN) stock and Ascent Solar Technologies (NASDAQ:ASTI) stock today. You can read up on all of these matters at the links below!

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On the date of publication, William White 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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-is-ionq-ionq-stock-down-12-today/.

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