Why Is Quantum (QMCO) Stock Down 5% Today?


  • Quantum (QMCO) stock is falling despite positive news recently.
  • That includes a software sale to one of its customers.
  • However, shares of QMCO have been volatile on Wednesday morning.
QMCO Stock - Why Is Quantum (QMCO) Stock Down 5% Today?

Quantum (NASDAQ:QMCO) stock is down on Wednesday despite the digital video and unstructured data storage and management company announcing a deal with XENON Systems.

Quantum reached an agreement with XENON Systems that has the latter purchasing its Quantum Myriad software. This is a platform dedicated to object storage. This allows the data storage specialist to offer Quantum Myriad to its customers.

It’s worth pointing out that XENON Systems also already sells Quantum ActiveScale to its customers. That makes this latest news an expansion on an already-existing agreement between the two companies. It also further builds on the strength of Quantum products available to XENON Systems’ customers.

Dragan Dimitrovici, CEO of XENON Systems, said this about the news:

“The fact that Quantum has comprehensive end-to-end solutions for the entire lifecycle of data—Myriad for the most challenging AI production workloads and ActiveScale for building active and cold data stores at petabyte to exabyte scale—makes their offerings especially valuable to our customers.”

QMCO Stock Movement Today

Quantum shares have been on a wild ride this morning following this news. The company’s stock was down as much as 45% during pre-market trading this morning. However, the stock is now only down about 5.4% as of this writing.

This comes with minimal trading of QMCO stock this morning. Only about 24,000 shares have traded, as compared to its daily average of roughly 417,000 shares.

There are even more stock market stories that traders will want to know about on Wednesday!

Luckily, we have all of that ready to go with our coverage of the stock market this morning. That includes everything happening with shares of Azitra (NYSEMKT:AZTR) stock, Earlyworks (NASDAQ:ELWS) stock and Brera (NASDAQ:BREA) stock today. You can read up on all of these matters at the following links!

More Stock Market News for Wednesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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