What's Going On With IonQ Stock?

IonQ Inc IONQ shares are trading higher Monday on continued momentum following Friday's surge. IonQ shares traded more than 15% higher Friday following rumors of a bullish mention of the stock in a newsletter.

What Happened: According to Benzinga Pro, rumors circled at the end of last week that IonQ could be a buyout target. Traders appeared to circulate James Altucher's Buyout Trader Newsletter recommending traders buy IonQ for potential gains of up to 765% given the "impending buyout."

IonQ is an innovative quantum computing company. Its current generation quantum computer, IonQ Forte, boasts an industry-leading 29 algorithmic qubits. 

IonQ is set to report its second-quarter financial results on Aug. 10. The company is expected to report a loss of 13 cents per share on quarterly revenue of $4.35 million, according to estimates from Benzinga Pro.

See Also: Apple To Rally Over 12%? Here Are 10 Other Analyst Forecasts For Monday

IONQ Price Action: IonQ shares were up 4.91% at $18.81 at time of publication, per Benzinga Pro.

Photo: courtesy of IonQ.