SEALSQ Corp (NASDAQ: LAES) saw a significant surge in its stock price on December 20, 2024, closing at $2.75, up 36.82% from the previous day's close of $2.01. The stock opened at $2.27 and reached an intraday high of $3.00, driven by the announcement of a major technological advancement. SEALSQ revealed the integration of its post-quantum cryptographic chips on WISeSat satellites, a move that positions the company at the forefront of securing satellite communications against quantum computing threats. This development, highlighting SEALSQ's semiconductor expertise, has been well-received by the market, as it addresses vulnerabilities in traditional encryption methods.
The trading volume was extraordinarily high, with 69,612,684 shares changing hands, representing 405.89% of the average daily volume. Additionally, discussions on Reddit noted the completion of SEALSQ's $25 million registered direct offering, which involved the issuance of 13,157,896 new shares. While some investors expressed concerns about potential dilution, the involvement of institutional investor L1 Capital Global Opportunities Master Fund, Ltd, acquiring approximately 10.5 million shares, added confidence to the market.