IonQ Stock Surges 11% Amid Quantum Computing Hype Despite Weak Fundamentals

IonQ shares rallied sharply on Monday, climbing 10.9% to close at $53.86 despite the absence of any material news. Trading volume reached 28.7 million shares, exceeding the 24.2 million daily average. The quantum computing specialist now commands an $18.7 billion market cap—the largest among pure-play quantum stocks—while generating just $7.5 million in trailing revenue.

Market observers attribute the MOVE to speculative fervor surrounding quantum computing prospects in 2025. Yet the valuation appears stretched at 2,293 times sales. The company posted a $3.58 per share loss last quarter, missing estimates by $3.14, and isn't projected to achieve profitability before 2031—even with ambitious $1.5 billion revenue targets by 2030.

Analyst sentiment remains divided with nine Buy ratings, seven Holds, and one Sell. Year-to-date performance tells a sobering story: IonQ's 17% gain barely outpaces the S&P 500's 14% rise, challenging the narrative of quantum computing as a market-defining theme.