Xanadu Jumps 20% After Quantum Selloff, Filing Remains Over XNDU
Xanadu Quantum Technologies’ shares surged 20.4% to $14.13 Wednesday, rebounding after a sharp May decline. The company reported Q1 revenue of $2.83 million and a net loss of $20.6 million, with 43.3 million Class B shares outstanding and a prospectus covering up to 293.7 million more. Other quantum stocks also rose. Xanadu is in talks for up to $285 million in Canadian government support.