Poet Technologies Skyrocketed Today -- Is the Stock a Buy Right Now?
Poet stock is still down 39% from its 52-week high after a recent pop. Should investors be buying?
Poet Technologies Skyrocketed Today -- Is the Stock a Buy Right Now?
Overview
Poet Technologies (NASDAQ: POET) stock posted a round of big gains in Friday's trading, surging 11.5% higher in the daily session. Meanwhile, the S&P 500 closed out the day up 0.5%.
Following recent valuation pressures, Poet stock enjoyed a day of bounce-back trading in today's session. After a surge in bearish sentiment earlier in the week, investors adopted more bullish positioning today in response to Iran war news and SpaceX's successful initial public offering (IPO). While there wasn't any specific business news for Poet today, positive momentum for the broader market helped lift the stock -- and it closed out the day with a double-digit gain.
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Originally published at www.fool.com.
