How Low Can IONQ Stock Go?

Core Viewpoint - IonQ announced a substantial $2 billion equity offering, leading to a 6.6% drop in its stock price due to concerns over share dilution [2][3]. Company Overview - IonQ is a quantum computing company valued at $18 billion, with $52 million in revenue, currently trading at $72.41 [8]. - The company provides general-purpose quantum computing systems accessible via major cloud platforms like AWS, Microsoft Azure, and Google Cloud Marketplace [6]. Financial Performance - IonQ reported a 67.8% revenue growth over the last 12 months, but has an operating margin of -700.6% [8]. - The stock is trading at a price-to-sales (P/S) multiple of 347, indicating a high valuation relative to its revenue [8]. Market Reaction - The announcement of the equity offering has led to negative investor sentiment, as the issuance of new shares dilutes existing shares [3]. - Historical data suggests that while price dips may recover, IonQ's stock has shown poor performance compared to the S&P 500 during economic downturns [4]. Stock Performance History - IonQ's stock fell 90% from a high of $31.00 on November 17, 2021, to $3.10 on December 27, 2022, while the S&P 500 experienced a peak-to-trough decline of 25.4% during the same period [10]. - The stock fully recovered to its pre-crisis peak by November 21, 2024, and reached a high of $82.09 on October 13, 2025, before currently trading at $72.41 [10].