US Stock Market Move | The sale of $500 million worth of common stock of Quantum Computing (QUBT.US) plummeted by over 14%.

On Monday, Quantum Computing (QUBT.US) plummeted over 14%, after skyrocketing nearly 27% last Friday, now trading at $19.92. In terms of news, the company announced on Sunday that it has agreed to sell 26.9 million common shares to institutional investors at market price, with an expected total revenue of $500 million. The company stated that the net proceeds will be used to fund commercialization activities, strategic acquisitions, personnel expansion, operational funds, and general corporate purposes. This move may result in dilution of shareholders' equity.