Australia's Archer Materials eyes best day in over 7 weeks on patent grant

Archer Materials

23/05/2022 05:40

** Shares of the semiconductor chip maker  AXE.AX  jump as
much as 13% to A$0.825, post their biggest intraday pct gain
since March 31  
    ** Co says CQ quantum computing chip technology patent has
been granted in Australia  urn:newsml:reuters.com:*:nASXbVKX9y
    ** Says patent protects a proposed qubit processor chip that
offers a path to realise practical quantum computing
    ** Shares hit their highest since May 4  
    ** More than 1.3 mln shares change hands, compared with the
30-day average of ~439,000 shares  
    ** Stock down 35.1% this year, as of last close, vs a 4%
decline in the benchmark S&P/ASX 200 index  .AXJO 

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))