Key Highlights

  • Xanadu Quantum Technologies is trading 5.10% higher at $3.09 on Wednesday, October 28, 2026, the largest gain of the five names.
  • indie Semiconductor is trading 3.16% lower at $1.69, the steepest decline of the group.
  • Ondas had 253,887,333 shares sold short at the October 15, 2026 settlement, about 44.5% of shares outstanding (calculated).
  • T3 Defense is unchanged at $3.85 after agreeing on October 27 to buy KeepZone AI for about $1 million.
  • Third-quarter results are due from indie Semiconductor on November 5 and from Quantum Computing on November 9, 2026.

Which Quantum, Defense and Space-Technology Stocks Are Moving on October 28, 2026?

Five technology and defense names are in focus on Wednesday, October 28, 2026. Xanadu Quantum Technologies (NASDAQ:XNDU) is trading 5.10% higher at $3.09, and Ondas (NASDAQ:ONDS) is trading 0.45% higher at $6.68 with a large short position. Quantum Computing (NASDAQ:QUBT) is trading 1.24% lower at $6.78, T3 Defense (NASDAQ:DFNS) is unchanged at $3.85 and indie Semiconductor (NASDAQ:INDI) is trading 3.16% lower at $1.69.

No release dated October 28 explains any of the five moves. The nearest dated items are Xanadu's October 19 funding approval, indie's October 21 space-qualification announcement and T3 Defense's October 27 acquisition agreement.

Xanadu Quantum Technologies: Does the DARPA Funding Approval Explain the 5.10% Gain?

Xanadu shares are trading 5.10% higher at $3.09, which implies a prior close near $2.94 (calculated). The most recent dated catalyst is the October 19, 2026 provisional approval of up to $10 million of project funding under the Quantum Benchmarking Initiative. The company warned that it may not receive the full amount on the expected timeline, or at all.

The Toronto-based photonic quantum computing company began trading on March 27, 2026 after a business combination that raised $302 million, and it counts GlobalFoundries (NASDAQ:GFS) as a strategic partner. For 2025 it reported revenue of $4.6 million, up 188%, against a net loss of $70.7 million. Market value is about $936 million. The company says it is negotiating up to CAD $390 million from the Canadian and Ontario governments for Project OPTIMISM, subject to due diligence and final agreements.

Quantum Computing: Why Is the Stock Lower With 33.57% of Float Sold Short?

Quantum Computing shares are trading 1.24% lower at $6.78, an implied prior close of about $6.87 (calculated), and no company release accompanied the move. Short-interest data updated October 27, 2026 show 67.35 million shares sold short, equal to 33.57% of float and 29.75% of shares outstanding, with 9.86 days to cover.

The New Jersey company builds photonic quantum systems. Second-quarter revenue was $5.551 million against $61,000 a year earlier, with a net loss of $11.753 million. Cash and investments were about $1.3 billion at June 30, 2026, and third-quarter results are due on November 9. Contract backlog was about $42.5 million, and the company completed its NHanced Semiconductors purchase on June 22, 2026.

T3 Defense: What Does a Flat $3.85 Quote Mean After the KeepZone AI Agreement?

T3 Defense shares are unchanged at $3.85. On October 27, 2026 the company agreed to acquire 100% of KeepZone AI from Nexera Technologies for about $1 million. T3 Defense acquires and operates aerospace and defense businesses in the United States and Israel, including power generators for Iron Dome launchers and drone payload systems.

Short interest for the October 15 settlement was 489,971 shares, up from 276,275, with 1.00 days to cover. With about 3.01 million shares outstanding, market value is roughly $11.6 million (calculated), and trailing twelve-month revenue is $7.65 million. In September the company filed a $250 million mixed securities shelf, which allows future share sales that can dilute holders.

Ondas: Why Is a Nearly Flat Stock Carrying 253.9 Million Shares Sold Short?

Ondas shares are trading 0.45% higher at $6.68, an implied prior close of about $6.65 (calculated), with no company release dated today. Short interest for the October 15 settlement was 253,887,333 shares, up from 228,545,414, or about 44.5% of shares outstanding (calculated, not a float figure), with 4.57 days to cover.

The company provides private wireless, drone and counter-drone systems. Second-quarter revenue was $83.8 million with a loss of $0.19 per share, and management raised its 2026 revenue target to at least $375 million after the $175 million Mistral acquisition. Market capitalization is near $3.81 billion (calculated). The next settlement date is October 30, 2026.

indie Semiconductor: Why Is the Stock Down 3.16% Ahead of November 5 Results?

indie shares are trading 3.16% lower at $1.69, an implied prior close of about $1.75 (calculated). No dated release explains the move. On October 21 the company said its superluminescent LEDs had completed final space qualification and were chosen for the Copernicus CHIME imaging mission, with no contract value given.

Short interest was 64,366,412 shares at the October 15 settlement, about 27.8% of shares outstanding (calculated), with 11.76 days to cover. Second-quarter revenue was $64.0 million, up 24%, and third-quarter revenue is guided to $67 million to $73 million. Cash was $139.0 million against total debt of about $416.1 million, and market capitalization is about $392 million (calculated).

Quantum, Defense and Space-Tech Compared: How Far Apart Are the Moves, Prices and Short Positions?

The gap between the best and worst mover is 8.26 percentage points, from Xanadu's 5.10% gain to indie's 3.16% decline (calculated). Quantum Computing and Ondas trade only $0.10 apart at $6.78 and $6.68 (calculated), yet their moves point in opposite directions. T3 Defense, at $3.85, is $0.76 above Xanadu's $3.09 (calculated).

On a shares-outstanding basis, Ondas is at about 44.5%, Quantum Computing at 29.75%, indie at about 27.8% and T3 Defense at about 16%, so Ondas sits 16.7 points above indie (calculated). Days to cover range from 11.76 at indie to 1.00 at T3 Defense, a spread of 10.76 days (calculated). Quantum Computing's 33.57% is a float figure, so it is not ranked against the others on that measure.

What to Watch Next: November 5 and November 9 Reports and the October 30 Short-Interest Settlement

indie reports third-quarter results on November 5, 2026, and Quantum Computing follows on November 9. Short-interest figures for the October 30 settlement are expected on November 10 for Ondas, indie and T3 Defense. The five names also differ in what they have to prove: revenue growth at indie and Ondas, cash use at Quantum Computing and financing at Xanadu. Also pending are confirmation of the full Xanadu funding, the close of the KeepZone AI purchase and Ondas third-quarter results in mid-November.