On June 3, Navitas Semiconductor fell 5.14% in after-hours trading, trading at $29.34/share, with trading volume of approximately $11.35 million. The stock had surged over 20% during regular trading before profit-taking pressure surfaced in the after-hours session.
On the news front, Navitas Semiconductor announced a collaboration with the NVIDIA MGX ecosystem to jointly advance 800V DC artificial intelligence infrastructure. As a leading gallium nitride power semiconductor company, Navitas was named to NVIDIA's next-generation 800V DC power architecture official partner list, securing a significant endorsement for entry into future AI data center power infrastructure. The 800V architecture is considered a critical upgrade to support next-generation AI accelerator power density requirements, with GB200/GB300 rack-level power consumption exceeding 120kW.
Despite the strong fundamental catalyst, the stock's rapid intraday appreciation of over 20% triggered immediate profit-taking in extended trading. The stock had previously declined due to director share sales exceeding 3.72 million shares, widening quarterly losses, and a planned offering of up to $125 million in Class A common stock.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments