Stock Track | POET Technologies Plunges 8.61% in Post-Market on Profit-Taking and Semiconductor Sector Weakness

Stock Track04-23 11:45

POET Technologies Inc (POET) experienced a 24-hour plunge of 8.61% during post-market trading on Wednesday. The decline follows a significant multi-day rally driven by positive company developments.

The sharp pullback is attributed to profit-taking pressure from investors after the stock's substantial gains earlier in the week. Additionally, the decline coincided with broad weakness across the semiconductor sector, with major industry players also trading lower during the session.

Prior to the sell-off, POET's stock had rallied on the company's announcement of a new photonics partnership aimed at AI-oriented optical transformation and confirmation from the CFO of a purchase order from Marvell Technology.

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