Xanadu Quantum pops 18% as funding talks and chip moves bring traders in

Xanadu Quantum Technologies Limited Class B closed up 18.24% Monday at $13.94, up $2.15 for the day. Trading volume ran to about 6.98 million, well over the 3.07 million average on Robinhood. Shares traded between $12.25 and $14.19, finishing close to session highs. The stock is still trading well under its 52-week top of $42.44.

Xanadu Quantum Technologies Stock Gets Its First Public Earnings Test—and Losses Still Rule

Xanadu Quantum Technologies Stock Gets Its First Public Earnings Test—and Losses Still Rule

Xanadu Quantum Technologies Limited posted first-quarter revenue of $2.8 million, up sharply from $0.7 million a year ago, but losses also deepened. The company said net loss increased to $20.6 million, or 28 cents per share, compared with $12.2 million, or 22 cents, in the prior-year period. The results, released Thursday, offer an early glimpse at the mounting costs tied to bringing its photonic quantum-computing business to the public markets.