Investing is sometimes about weighing the potential reward versus the risks involved. Sure, IonQ could become a powerhouse in quantum computing. The issue is that the stock is already valued as if it's a given when it's not. If things don't work out as investors hope, the stock has an immense downside from its current price.

Most of the water cooler discussion these days among investors discussing the highest-flying stocks continues to be around artificial intelligence stocks, or companies leveraging such technology for growth.

IonQ raises $372M through equity offering to secure $700M pro-forma cash balance for 2024, despite market turbulence.