Shares of Quantum Computing Inc. (NASDAQ: QUBT) were sliding today after the development-stage specialist in photonics and quantum optics technology announced a follow-on offering, raising $500 million worth of stock.
Investors sometimes dislike these additional share offerings, as they dilute existing shareholders and show that the company needs a new round of cash.
As of 11:30 a.m. ET, the stock was down 14.4% on the news.