Xanadu Quantum shares rebound after 180-day lockup expires

  • Xanadu Quantum shares rebounded Wednesday after Tuesday's sell-off following lockup expiration.
  • 255 million shares became eligible to trade, versus approximately 43 million previously tradable.
  • XNDU rose 5.02% to $6.07 in Wednesday premarket trading.

Xanadu Quantum Technologies Ltd. shares rebounded Wednesday after a Tuesday sell-off triggered by the expiration of a 180-day post-merger lockup period. Approximately 255 million additional shares became eligible for public trading, compared with about 43 million previously tradable shares. XNDU was up 5.02% at $6.07 in Wednesday premarket trading, according to Benzinga Pro data. Existing reports put Tuesday's decline at either 18.72% to $5.99 or 21.7% during a broader market downturn. Xanadu is a Canadian photonic quantum computing company developing fault-tolerant systems that use light and are designed to operate at room temperature.

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