IonQ ( IONQ 3.29% ) has attracted a large following based on the premise that the nascent quantum computing market could usher in a host of new advancements in areas such as materials science, artificial intelligence (AI) modeling, drug discovery, and more. The company is taking a relatively unusual approach to quantum computing, utilizing trapped-ion qubits to process data.

However, IonQ is spending heavily as it develops its technology, and its losses are mounting. Despite quantum computing's potential, I think it would be best not to buy IonQ stock right now. Here's why.

IonQ's losses are rapidly expanding

It's not unusual for high-growth companies that are expanding into emerging trends to spend significant amounts of money. The idea is that a growth company will genera

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