IonQ: Sell The Hype – You Might Thank Me Later

Summary:

• IonQ buyers took apart my previous thesis, eviscerating it completely out of the water.
• I remain defiant in the face of intense opposition from the bulls.
• There are many uncertainties in IONQ’s business model, even though it has made constructive progress.
• While Google’s recent Willow chip development has added confidence to quantum computing stocks, IONQ’s valuation has reached stratospheric levels.
• I argue why, if you are sitting on massive gains, it might be time to consider selling the hype. You might thank me later for the reminder.

Even though my portfolio has benefited tremendously from the AI hype in 2024, I completely missed the mark on quantum computing stocks in general. Without a doubt, my bearish rating on IonQ, Inc. (NYSE:IONQ) was blown out

Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOGL, GOOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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