IonQ, Inc. (IONQ) shares are experiencing a decline today, driven by a significant increase in short selling activity. On January 16, the short volume for IonQ surged by 3.69 million shares, marking an 80.35% increase compared to the previous trading day. This heightened short interest, with a short sale ratio reaching 11.07%, suggests that investors are betting against the stock, contributing to downward pressure on its price.
Additionally, broader market sentiment towards quantum computing stocks has been impacted by recent comments from Nvidia's CEO, Jensen Huang. His cautious remarks about the future of quantum computing have led to a sell-off in the sector, affecting IonQ's stock performance. Despite the long-term potential of quantum computing, these comments have introduced a degree of skepticism among investors, further influencing IonQ's stock movement.
IonQ's stock is currently priced at $37.80, down 4.04% from its previous close of $39.39, but up 2.55% from its opening price of $36.86.