IONQ Inc.'s stock plummeted 6.56% in pre-market trading on Friday, as the quantum computing company gave back some of its recent gains.
The decline is attributed to profit-taking by investors following a significant rally after the company's blockbuster first-quarter earnings report. IonQ's Q1 results showed revenue surging 755% year-over-year, with management raising full-year revenue guidance.
The stock had previously advanced on these strong results, leading to the recent pullback as traders locked in gains from the rapid price increase that followed the earnings announcement.