Quantum Stocks Plummet, 1.5 Trillion Won in Market Value Vanishes in a Day

IonQ Inc. (NYSE: IONQ) closed at $43.93 on the New York Stock Exchange on April 22, down 7.24%. Volume topped 18.72 million shares, erasing roughly $1.087 billion (₩1.5 trillion) in market value. The company’s market capitalization now stands at about $16.1 billion (₩22 trillion).

The shares have jumped nearly 60% so far in April amid a string of positive developments: a DARPA HARQ program contract, defense orders related to quantum networking, NVIDIA’s launch of quantum-computing tools, and Northland Securities’ $55 price target. That rapid gain has fueled debate over a potential short-term overheating.

Founded in 2015 and based in Maryland, IonQ specializes in trapped-ion quantum computers. It became the first pure-play quantum-computing company to list on the NYSE via a SPAC merger in 2021.

IonQ is broadening its footprint in quantum computing, networking and security through partnerships with major cloud providers—Amazon Braket and Microsoft Azure—a quantum-network project with the U.S. Air Force Research Laboratory, and strategic alliances with SK Telecom and ID Quantique.