IonQ Inc (NYSE:IONQ) shares are trading higher Monday afternoon after the company announced its commitment to helping build a quantum ecosystem in Texas.
The declaration follows the passage of the Texas Quantum Initiative (HB 4751), new legislation designed to establish the state as a major hub for quantum innovation.
What To Know: The company says this engagement is part of IonQ’s broader vision to expand regional quantum economies. Earlier this year, IonQ CEO Niccolo de Masi testified before the Texas Senate Business and Commerce Committee, supporting the bill and emphasizing quantum’s role in future cybersecurity and economic challenges.
“The Texas Quantum Initiative is more than just policy. It’s a platform for transformative innovation,” said de Masi. “IonQ is excited to collaborate with Texas leaders, universities, and industry.”
Per IonQ, the initiative creates a framework to leverage the state's academic and tech sectors through investment incentives and research opportunities.
“Quantum technology is no longer a distant idea; it is quickly becoming a reality,” said Chairman Capriglione, a key supporter of the bill. He noted the initiative will help Texas lead in a globally competitive field.
Price Action: According to data from Benzinga Pro, IONQ shares are trading higher by 7.98% to $43.46 during Monday’s session. IonQ’s short interest is high, with 20.89% of the company’s float, or 238.129 million shares, currently being sold short. The stock has a 52-week high of $54.74 and a 52-week low of $6.22.
Analyst Ratings: Recent analyst ratings for IonQ show a pattern of positive reinforcement. On June 30, an analyst at Benchmark reiterated their Buy rating for the stock, keeping the price target firm at $50. Earlier in the month, on June 11th, Needham also reiterated its Buy rating with a $50 price target.
Read Also: Quantum Stocks Surge And Stumble: Here’s What Happened This Week
How To Buy IONQ Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in IonQ’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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