Why Is Xanadu Quantum Technologies Stock Falling On Monday?
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Xanadu Quantum Technologies' stock fell 66% on Monday following an SEC filing for the resale of up to 293.6 million Class B shares. The filing includes shares from the conversion of Class A shares and PIPE shares from private placements. Xanadu will not receive proceeds from these sales, except for warrant exercises. The stock is trading significantly below its 20-day SMA and closer to its 52-week low, with key resistance at $22.50 and support at $7. At publication, shares were down 65.39% at $12.50.
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