From Nasdaq:

In 2023, IonQ stock (NYSE: IONQ) gained 299% – overtaking the S&P 500. IonQ is a pioneer in quantum computing tech, with leading-edge applications in AI and data security. However, the quantum game also includes big names like Microsoft, IBM, and Alphabet. IonQ’s rapid success and market cap ($2.7 billion) make it a risky buy.

Investors should be cautious when considering a purchase of IonQ stock. Current sales are soaring, but ongoing quantum-tech advancements and fierce industry competition may lead to rapidly decreasing value of current systems. A $138 price-to-sales ratio makes it a questionable purchase, and there are many potential unknowns that make it a risky bet.

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Read more: IonQ Surged Over 290% in 2023, But Is It a Buy?