Why Xanadu Quantum Technologies Stock Slipped 10% This Week

Shares of Xanadu Quantum Technologies (NASDAQ: XNDU) fell 10% this week, according to data from S&P Global Market Intelligence. The quantum stock had recently boomed after its merger with a special purpose acquisition company (SPAC), but has since fallen back to earth, almost back to its merger price. An insider sale this week further exacerbated losses.Here's why Xanadu Quantum sank, and whether now is a good time to buy this quantum stock. Xanadu Quantum went public via a SPAC merger in late March. With a low float and hype around the future of quantum computing, the stock went off like a rocket in the next month, rising to almost $40 from its $10 merger price in late April. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool