Shares of IonQ Inc. (IONQ) tumbled 5.00% in pre-market trading on Friday, marking a significant reversal from the previous day's surge. This downturn comes on the heels of CEO Niccolo de Masi's ambitious statement comparing IonQ to tech giant Nvidia in the quantum computing space.
In a recent interview with Barron's, de Masi boldly claimed, "I believe IonQ will be the Nvidia player," positioning the company as a potential leader in the quantum computing industry. He further added, "We're in the business of quantum just like Nvidia and Broadcom are in the business of classical GPUs." While such comparisons can generate excitement, they also raise expectations and scrutiny from investors.
The pre-market plunge suggests that investors may be reassessing IonQ's valuation and growth prospects in light of these ambitious claims. It's worth noting that this decline follows a substantial 37% gain on Thursday, which was the stock's largest percentage daily increase on record, according to Dow Jones Market Data.
The broader context of the quantum computing sector shows mixed performance among industry players. While some quantum computing stocks were rising in pre-market trading, IonQ's significant drop stands out. This volatility underscores the nascent and speculative nature of the quantum computing industry, where market sentiment can shift rapidly based on company statements and perceived potential.