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BlackBerry shares surge as QNX robotics bet gains momentum
BlackBerry shares jumped 7.8% to $9.70 in New York, reaching a 52-week high in Toronto, fueled by QNX's 20% revenue growth and a $950 million royalty backlog.
Rigetti Computing Gains on Quantum Error Correction Breakthrough and CHIPS Act Funding
Rigetti Computing shares rose 3.4% after a quantum error-correction paper was published and the company secured up to $100 million in CHIPS Act funding.
Redwire Drops 16% on Downgrade Amid Space Sector Selloff
Redwire shares plunged 16.4% to $20.53 after Jefferies downgraded the stock to Hold, citing valuation concerns. The broader space sector also retreated.
NIO Stock Jumps on 62% May Delivery Surge; Q2 Target Hinges on June
NIO shares jumped 6.6% after May deliveries surged 62% YoY to 37,705 vehicles. The company now needs to deliver 42,939 units in June to hit its Q2 target.
Markets Mixed: Nvidia Gains on AI Chip Launch, Oil Surges on Iran Tensions
U.S. stocks were mixed Monday as Nvidia surged on a new AI chip with Microsoft, while oil prices jumped over 6% on Iran-related risks. The Dow fell 0.2%, and the S&P 500 was flat.
Rocket Lab Shares Slide 13% Amid SpaceX IPO Jitters and Valuation Concerns
Rocket Lab shares dropped 13% as traders reassess the stock ahead of SpaceX's record IPO, weighing high valuation and Neutron rocket risks.
Sphere 3D Soars 57% After Completing Cathedra Bitcoin Merger
Sphere 3D shares jumped 57% after finalizing its merger with Cathedra Bitcoin, forming a larger digital infrastructure company with 53 MW online capacity and 1.2 EH/s hash rate. The stock traded at $2.99 on heavy volume, though Q1 revenue fell to $1.9 million with a $4.1 million net loss.