Why Arqit Quantum Stock Is Tanking Today
Shares of Arqit Quantum (NASDAQ: ARQQ) stock were slumping on Thursday. The stock started the day up as much as 16.6% but has since fallen sharply, down as much as 21.9% on the day. As of 12:48 p.m. EDT, Arqit Quantum stock is down 16.7% today.
Arqit Quantum completed its special purpose acquisition company (SPAC) merger that helped it enter the public markets less than a month ago. Like a lot of SPAC stocks that have a low float (which means there are a limited amount of shares being publicly traded) early in their trading history, small changes in demand from traders can cause huge changes in the share price. This is likely what is happening with Arqit Quantum.
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Source Fool.com
