Shares of quantum computing stocks slumped on Monday, paring off last week’s gains, while Quantum Computing (NASDAQ:QUBT) announced a $500M oversubscribed private placement on Sunday.
Quantum Computing’s (NASDAQ:QUBT) stock tumbled about 16% on Monday. The company said it entered agreements with institutional investors for the purchase and sale of 26.9M common shares in an oversubscribed private placement.
Meanwhile, shares of Arqit Quantum (ARQQ) and D-Wave Quantum (QBTS) fell nearly 6% each. Rigetti Computing (RGTI) declined about 3%, and IonQ (IONQ) dipped roughly 2%.
Quantum Co. (QMCO) seemed to buck the trend and climbed about 2%.
Last week, shares of these quantum computing companies had seen huge gains.