Our Stock of the Week is IonQ ($IONQ). IONQ is a pioneer and leader in the field of quantum computing. Quantum computing is 158 million times faster than the most sophisticated supercomputer. It can do in four minutes what would take a traditional supercomputer 10,000 years to accomplish. This power has applications in many areas such as financial modeling, drug design, logistics, artificial intelligence, cybersecurity, etc.  

IONQ is still at an early stage and will not produce substantial revenue for a couple of years, but in its most recent conference call, the CEO said that he expects total system sales to reach nine figures in the next few years. The CEO discussed one project with Hyundai, which uses quantum computers to simulate battery chemistry in electric cars.

Technically, the stock has been forming a favorable pattern and is in a position to challenge overhead resistance. There has been some recent pressure on concerns that an unlock of shares held by PIPE investors could cause pressure, but this appears to be well anticipated and has not impacted the price action.

As always, we will not chase strength on Monday morning but will look to aggressively trade our position as conditions develop.

This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in IONQ. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.