IonQ Inc (NYSE:IONQ) shares are getting a lift in extended trading on Wednesday after the company announced a deal with the U.S. Department of Energy (DOE).
IONQ is testing upper boundaries. See the complete data here.
What Happened: After the market close on Wednesday, IonQ announced that it signed a memorandum of understanding (MOU) with the DOE to advance the development and deployment of quantum technologies in space.
Under the agreement, IonQ will design and showcase the execution of an orbital demonstration of quantum-secure communications using its satellite platform. The collaboration also aims to explore alternate position, navigation and timing, time synchronization, quantum networking and sensing.
“By working alongside the DOE, we aim to demonstrate the power of quantum computing and networking to enable new applications for secure communications,” said Niccolo de Masi, chairman and CEO of IonQ.
“This MOU reflects the growing importance of quantum technologies in achieving global leadership in space innovation and cybersecurity.”
The news comes after IonQ shares closed Wednesday up more than 5% after the company entered into a definitive agreement to acquire advanced quantum sensor company Vector Atomic. Vector has over $200 million in government contracts for national security operations.
How To Buy IONQ Stock
By now, you're likely curious about how to participate in the market for IonQ — be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.
IONQ Price Action: IonQ shares hit new all-time highs on Wednesday. The stock was up 3.93% in after-hours, trading at $68.01 at the time of publication, per Benzinga Pro.
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Image: courtesy of IonQ.
