IonQ stock rises nearly 400% in late 2024 amid quantum computing excitement

IonQ's stock surged nearly 400% in late 2024, driven by excitement around its quantum computing technology. The company designs quantum computers, which can perform complex calculations faster than traditional computers using qubits instead of bits. Despite its potential, IonQ remains unprofitable and lacks positive cash flow. In its latest quarter, it reported $12.4 million in revenue, significantly lower than major tech firms. The company has $365 million in cash but will need to generate more revenue or seek additional funding to sustain operations. Investors face risks as IonQ navigates a competitive landscape. The company's future depends on technological advancements in quantum computing. Caution is advised for those considering IonQ stock.