Why Navitas Semiconductor Stock Sank This Week
Navitas stock is now down 59% from the peak it hit earlier this year.
Overview
Navitas Semiconductor (NASDAQ: NVTS) stock got hit with a pullback this week amid adverse valuation trends in the artificial intelligence (AI) hardware space. The company's share price closed out the week down 10.3%.
There wasn't any negative, business-specific news for Navitas this week, but the stock lost ground as investors reacted to Fabrinet's latest quarterly report. Navitas is still up 81.5% year to date, but its share price is also down 59% from its high.
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Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.