Tuesday, July 1, 2025

Jared Kushner-Backed QXO Inc. Sees Dramatic 80% Stock Drop After Share Unlock

QXO Inc. (Nasdaq: QXO), a company with ties to Jared Kushner, former President Donald Trump’s son-in-law, experienced a staggering 80% drop in stock value during trading on Tuesday. The company’s shares plummeted from Monday’s closing price of $60.50 to a mere $12.05.

The precipitous decline came after QXO filed registration statements for two previously announced private placements with the U.S. Securities and Exchange Commission. This move unlocked millions of shares, leading to increased selling pressure and a subsequent market selloff.

QXO, which had boasted an implied valuation exceeding $90 billion just last week, saw its paper value plummet by approximately $36 billion. The company’s current valuation stands at around $8.6 billion on a fully diluted basis, a stark contrast to its recent peak.

The company, initially funded with a $1 billion investment led by Brad Jacobs into Nasdaq-listed SilverSun Technologies Inc., had been raising billions through private placements. These fundraising efforts continued even as QXO’s stock price soared to an impressive $290 per share in June.

Earlier this month, QXO announced a $620 million private placement, which included a $150 million investment from Kushner’s Affinity Partners. This news, coupled with Kushner’s appointment to QXO’s board of directors, had initially triggered a 112% surge in the company’s stock price.

QXO has said that it plans to use the raised funds, totaling $5 billion in cash with no debt, to make acquisitions in the building products distribution industry. This strategy effectively positions the company as a blank-check entity, although it has decided to retain its SilverSun Technologies business, contrary to earlier plans for a spin-off.


Information for this story was found via Bloomberg, Benzinga, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Binance, Other Crypto Firms Prepare To Bid For Voyager After FTX Collapse

Binance, as well as other crypto firms are gearing up to restart the bidding process...

Monday, November 28, 2022, 11:23:00 AM

Is Robinhood’s Stock a Buy?

Today I want to chat about Robinhood Markets (NASDAQ: HOOD). I’m going to tell you...

Saturday, August 7, 2021, 02:00:00 PM

Cerrado Gold Closes On All-Stock Acquisition Of Ascendant Resources

Cerrado Gold (TSXV: CERT) has completed its previously announced acquisition of Ascendant Resources (TSX: ASND)...

Tuesday, May 20, 2025, 08:13:19 AM

Mayorkas Warns of Heightened Foreign Terrorist Threats and Election Disinformation

The Department of Homeland Security (DHS) has observed an increase in foreign terrorist threats to...

Saturday, June 22, 2024, 07:18:00 AM

Organigram Shares Slump On Q4 2023 Financials: Net Loss Widens By 437%

Organigram Holdings (TSX: OGI) saw a decline in its share price as the firm reported...

Tuesday, December 19, 2023, 09:41:35 AM