Technology stocks were advancing this afternoon, with the SPDR Technology Select Sector ETF (XLK) Wednesday rising 0.9% while the Philadelphia Semiconductor Index was advancing 0.5% this afternoon.
In company news, Arqit Quantum (ARQQ) rose almost 16% after announcing an expanded collaboration agreement with Virgin Orbit intended to accelerate its quantum encryption technology, with Virgin Orbit carrying two Arqit satellites into Earth orbit that will be the core component of Arqit’s data center platform-as-a-service. Virgin Orbit also has acquired a quantum cloud encryption license from Arqit for its launch and space solutions businesses.
ForgeRock (FORG) added 15% after a regulatory filing Wednesday showed the ETF Managers Group has acquired nearly 1.8 million of the digital identities company’s shares through its ETFMG Cyber Security exchange-traded fund and now holds a 16.3% ForgeRock stake.
Luminar Technologies (LAZR) climbed 3.6% after Citigroup Wednesday resumed coverage of the vehicle sensors company with a buy stock rating and a Wall Street high price target of $38 a share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.