Xanadu Stock Hits New Lows: What's Happening?
Xanadu Quantum Technologies Ltd (NASDAQ:XNDU) shares are tumbling Tuesday. The company's standard 180-day post-IPO lockup period expires today. Here's what you need to know.
When a company first goes public, early owners must wait 180 days before selling shares. Today that waiting period ended for Xanadu, so many people might sell their stock. When lots of people sell at once, the price usually drops, which is what happened.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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