On July 13, IonQ fell 5.55% in regular trading, trading at approximately $40.29/share, with turnover of $136 million, extending a multi-day decline that has seen the stock retreat significantly from recent highs.
The decline comes as IBM's quantum computing advancements continue to weigh on pure-play quantum computing competitors. IBM recently announced a collaboration with Oak Ridge National Laboratory to solve fusion energy fuel production calculations using quantum computers, while committing $1 billion to establish subsidiary Anderon for manufacturing quantum processor silicon wafers, with plans to invest an additional $9 billion over five years. Wall Street analysts note that IBM has preemptively secured critical manufacturing resources, building a physical-layer moat in the early stages of quantum competition that poses direct pressure on companies like IonQ.
IonQ has declined for multiple consecutive trading sessions, with the stock falling from above $56 in May to current levels. Investment bank Susquehanna recently valued IBM's quantum computing business at approximately $65 per share, further underscoring IBM's dominant positioning in the space.
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