Why Is IonQ Stock Surging After-Hours?

IonQ is among more than 2,400 companies eligible to compete for future task orders issued under the SHIELD IDIQ contract framework.

IonQ on Monday announced that it was awarded a contract under the Missile Defense Agency Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) indefinite-delivery/indefinite-quantity (IDIQ) contract with a ceiling of $151 billion. 

At the time of writing stock was up 2%. 

The contract encompasses a broad range of work areas that allows for the rapid delivery of innovative capabilities to the warfighter with increased speed and agility, it said in a statement.

IonQ is among more than 2,400 companies eligible to compete for future task orders issued under the SHIELD IDIQ contract framework.

Participation in the SHIELD IDIQ contract provides a contractual framework through which IonQ may compete for future task orders, subject to agency requirements and competitive selection processes. 

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