BUZZ-IonQ falls after Kerrisdale takes short position

Reuters03-13
BUZZ-IonQ falls after Kerrisdale takes short position

** Shares of quantum computing firm IonQ IONQ.N fall ~3% to $21.17

** Kerrisdale Capital says it has taken short position in IonQ

** Massive scaling challenges and reliance on photonic interconnects means co is nowhere close to producing commercially viable product, Kerrisdale says

** "As reality sets in on the quantum computing bubble, IONQ remains wildly inflated," investment firm says

** Reuters could not independently verify the claims in the short seller's report

** IonQ did not immediately respond to Reuters' request for comment

** Stock more than tripled in 2024

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment