IonQ stock fell 19.8% in the week to October 13, 2026, while the S&P 500 slipped 0.2% and peer Rigetti Computing lost 15.8%. The drop followed the company's announcement that it would buy Elisity in an all-stock deal worth up to $1.3 billion, about a tenth of its $12.7 billion market value, and the article says existing owners may be diluted, as the share count has already climbed 82.5% over three years. Elisity's revenue was not disclosed, and up to $150 million of the price is performance-based earnouts. IonQ's own business kept growing, with second-quarter revenue of $80.1 million, organic revenue up 132%, and 2026 revenue guidance raised to $280 million to $290 million for IonQ alone, though its trailing operating margin was minus 408.2%. Contracted revenue still to deliver reached $485 million, up from $122 million a year earlier.
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