IONQ Stock Falls 10% Following Scorpion Capital Short Report. 11 Things to Know. – InvestorPlace

IonQ (NYSE:IONQ) stock is down about 7% today after Scorpion Capital released an 183-page short report on the company. IonQ operates as a quantum-computing company, claiming to have the worlds most powerful quantum computer. Last year, it also became publicly traded through a special purpose acquisition (SPAC) transaction.

Source: Amin Van / Shutterstock.com

However, through interviews with industry experts and former employees, Scorpion believes the companys claims of a 32-qubit machine are a brazen hoax. The firm points out that past employees have stated the technology doesnt exist and that it was totally made up.

Scorpion even goes as far as comparing IonQs quantum computer with Nikolas (NASDAQ:NKLA) rolling truck catastrophe. The firm characterizes the quantum computer as IonQs claim to fame as well as the basis of its SPAC.

Shares of IONQ stock are down over 50% year-to-date (YTD). So, with that in mind, lets get into the details of the short report.

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/05/ionq-stock-falls-10-following-scorpion-capital-short-report-11-things-to-know/.

2022 InvestorPlace Media, LLC

Read the original:

IONQ Stock Falls 10% Following Scorpion Capital Short Report. 11 Things to Know. - InvestorPlace